A Tale of 2 Miami Markets (above and below $800K)

April 22, 2012

The chart above illustrates…

During the first eight months of 2011, there was a large decrease in available homes for sale.  The available inventory for Dade County single family homes over $800,000 had a healthy reduction from 1437 to 1206.

In contrast, during the next 7 months (Sept 2011 to March 2012),  available inventory of single family homes over $800,000 remained constant at 1202 in Sept. 2011 vs 1188 in March 2012.

What does this indicate?

It signals that homeowners in the $800K plus range who wanted to sell but did not need to sell during the downturn of the past few years are seeing that the market conditions are better for selling now.

The Challenge…

These Sellers who wanted to sell but did not need to sell are introducing their homes to the market at the same time causing an abundance of supply over $800K in some areas.

The Good News…

January, February and March of 2012 has seen a spike in purchases in Miami’s over $800K price range.

Conclusion…

It is important for Miami Sellers over $800K to price their listings aggressively in relation to the competing Sellers in order for their listings to garner offers before the end of peak selling season for Miami Single Family (January through July).

For an interview to discuss the best sales strategy for your particular Miami home, condo or townhouse over $800K, call Jason Smith at 786-326-8116.

 

ShowcaseMiami Realty specializes in assisting homeowners to Sell their Miami home.

(Highest price in the Shortest period of time)

To discuss a strategy for your home, call…

Jason Smith

Broker (Seller Specialist)

ShowcaseMiami Realty

www.ShowcaseMiami.com

786-326-8115

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