Your Suncoasteam has set up a valuable tool on our website that will allow you to access and create reports of sold properties in Southwest Florida. With this tool you will be able to watch the market and determine the general value of similar properties. Go to https://suncoasteam.com/sold-report/quickstats/sales-reports-single-family-homes Sales Statistics for Southwest Florida Real Estate.
This is an example of a report I created on the page:
Charlotte County Single Family Home Sales, last 30 days: 233, Average sale price $151,295, 92.5% of list price
Number of these that were foreclosures: 52, Average sale price, $84,740, 92.5% of list price
Number of these that were short sales: 36, Average sale price, $121,439, 92% of list price
37.8% of all homes sold in the last 30 days in Charlotte County, FL were either a short sale or a foreclosure. While that is an very high number, it still means that 62.2% of homes sold in the county were standard, private sales without third party approval. There are good deals to be had in all types of sales.
When you use the module, take your time to analyze the data. For instance, of the 145 standard sales, the difference between list price and sales price was 92.5%…. BUT… if you remove the few outliers, those homes that were listed too high and finally sold at the correct price, perhaps 75% of list, the difference is higher than 92.5%. Homes that are price right, sell for closer to list. Simple logic.
Take a look at the homes that have sold for a low price or a lot lower than list. They usually need a lot of work. Some buyers think they can offer 20% less than the asking price but the data show something different. Yes, there are those homes that are overprices but not too many. Compare apples to apples, look at what a home needs compared to others on the market and make a realistic offer. Sometimes a “lowball” offer is the right number. Most of the time it is not.
Take time to analyze your property and rely on the help of a professional, experienced real estate agent to determine the right price whether selling or buying.