Although values are on the rise in Coral Gables, many sellers start off with a list price that is too high and end up reducing the property before it sells. Out of the 405 homes sold in Coral Gables this year, 33% had to have price reductions before selling. When you break the numbers down even more, it seems that the $1,000,000 and below sellers are the most optimistic as there were 84 price reductions in that segment, while there were only 51 price reductions for homes sold over $1,000,000.
I can’t stress enough to my sellers how imperative it is that they price their home correctly from the beginning. After a home comes on the market, the ‘perceived value” begins to diminish after 30 days. You want to come on the market with a number that will get your home sold fast and for the highest price.
If you are interested in selling your home and would like to work with a team who knows how to properly value a Coral Gables home, please contact us today at 305-342-1623.
The Riley Smith Group is the #1 Top Producing Team at EWM’s Coral Gables office. If you are interested in buying or selling real estate in Coral Gables and would like to work with Realtors who specialize in the area, please contact us at 305-342-1623 or by filling out a contact form here.