I do want to emphasize that in the South Florida market the asking price, in many cases is below what properties are ultimately selling for. This of course depends on the desirability of the property. A highly desirable property will generate more interest and probably multiple offers, which usually drive the property price up. I have experienced cases where the asking price is $20 to $30K below the final sale price (market value).
When interested in a particular property you should contact a licensed agent. An agent is really the only one that will be able to tell you, with some accuracy, whether or not the property is truly worth the asking price. Agents use experience and local values based on the most recent sales data to determine market value.
If you wish to discuss this further, please contact me at 786.302.0351 or email me at juan@insideMIAMIrealestate.com
Juan Sanchez â€“ Broker Associate â€“ Real Living FSR â€“ Coral Gables, FL USA
Of course sometimes, the homeowner may specifically request that the list price be far above what anyone would pay. It's a classic pricing mistake, but you'll see those mis-priced homes hang on the market for months.