As I said last week, March residential house sales in Flagler County saw a dip in performance compared to March of 2013, when the number of sales this year came in at -22%. April thus far this year has had 62 closings for residential houses in Flagler County bringing the total to 498 year-to-date.
April 2014 Residential House Sales (as of April 13, 2014)
- Number: 62
- Lowest: $46,700
- Highest: $900,000
- Average: $193,367
- Median: $144,600
The top 3 house closings for this month as April 13, 2014 are:
- 3349 Oceanshore Blvd at $900,000
- 19 Waterview Drive S. at $619,000
- 262 Yacht Harbor Dr at $530,000
The top 3 house sales for 2014 so far (as of April 13, 2014):
- 21 Hammock Beach Way $1,553,500
- 160 Island Estates Parkway at $1,530,000
- 24 Ocean Ridge Blvd at $1,200,000
We have seen a slight bump in inventory with 1,026 active houses for sale in all of Flagler County.
#1 Tip for Sellers in Today’s Market:
Price it right the first time. Owners sometimes have a tendency to get caught up in “seller market” and “buyer market” terms and then they begin speculating (aka the worst thing to do in real estate). You’ll know you are speculating when you find yourself saying “I think they . . . “. The reality is that existing houses are not the only competition. Buyers are building again, and local new builds have seen a huge bump. So, not only are sellers competing against other existing houses for sale; they are also competing against new build options.
The most common scenario is pricing too high and “being firm”. Pricing too high often leads to decreased “foot traffic”, “lowball” offers that are rejected, and more time on the market. When properties stay on the market too long, sellers typically begin dropping the price and over longer periods often get less than what they could have gotten if they had priced it correctly the first time.
Pricing right the first time is best done with a Comparable Market Analysis which estimates a selling price based upon similar properties that have sold with adjustments for slight differences. The goal is to come as close as possible to what the property might appraise at during a sale by a licensed appraiser. And by doing this the property now comes up in online for buyer searches with comparable properties allowing more opportunity for great features to better stand out. Pricing right the first time coupled with great advertising and great presentation will generate the traffic early and typically bring better quality offers which equates to quicker sales at better selling price.
Have a great week!
Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 4/13/2014 for Residential Houses. Information may be deemed reliable, but is not guaranteed