Rolling back the years in pricing

The latest market statistics are out for Manatee/Sarasota counties for December.

For buyer's crack open the champagne. For seller's time to rethink your pricing.

For single family homes the prices have dropped to the lowest since April of 2002 according to the latest market report from the Florida Association of Realtors as reported in the Sarasota Herald Tribune.

The median home price is now $160,000, a 35 percent drop from the same month a year ago when the median home price was $246,900.

According to the report we had the fourth largest drop in the state.

The bright light in this is that sales were actually up three percent over last December. With prices like these, no kidding!

Listing agents often talk to sellers who refused to set a realistic price and their homes are still on the market year after year with a number of different agents.

The seller's didn't hear what they wanted to about price so they keep going through agent after agent hoping for someone willing to pay over market value for their listing.

A lot of them are now trying to short sale or may have even gone in to foreclosure.

For seller's when your agent says drop the price. You should be asking should I drop it even more, not saying that you don't want to give it away.

You're not giving it away you are trying to sell it.

All the best
Greg Owens PA
Keller Williams Realty of Greater Manatee
941.932.6343
greg@teamworksfla.com