Market Conditions in 33156>Question Details

Kathy Ambros, Home Seller in 33156

What is average time a 5/2 house is on the market in East Kendall (Dadeland area) in Miami Florida.?

Asked by Kathy Ambros, 33156 Wed Sep 19, 2007

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2
As you may know, There are a number of factors that may affect the DOM (Days on Market) or time frame it takes to sell any property.

Consider the condition of the property, obviously the location (proximity to rail road tracks, US1, etc), and all the obvious factors.

However, today's market seems to have become a price and beauty contest. Though other factors affect it, price is a function of market conditions and property condition for the most part. In today's market, a properly priced home is one that is among the lowest and requires the least repair compared to a similar homes in the area.

Time on market therefore, is a function of price. If the property is priced at the upper tier, even if no repairs are necessary and it is the best looking one on the subdivision, it may not get shown much, if at all.

Your motivation to sell will play a big part in the equation as well. If you purchased the house since 2003, you may or may not recover your investment and, depending on your original down payment (and even if you refinanced since the original purchase during that same time period, getting all or most of your equity out then), you may find yourself upside down if you lower to what the appropriate price level would be.

Regardless of the days on market for the area, you can determine your own days on market by your level of motivation, your objective and critical evaluation of your home's condition as compared to your competition, and your ability to go low enough to compensate to buyers any negative factors surrounding your home sale.

For a Complementary Home Evaluation, geared specifically to your situation, simply visit http://miamirealestateking.com/9404/dsp_agent_page.php/45860… and you will be contacted for further details.

Wenceslao Fernandez Jr, BS, CDPE
Keller Williams Realty
0 votes Thank Flag Link Sat May 31, 2008
Kathy,

I work in central florida but I have friends that work in Miami. I am told that unless the house is a give away price, homes are staying on the market 9 months or longer some times much longer.

Hope that helps,
Linda J Sears
0 votes Thank Flag Link Thu Sep 20, 2007
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