How is the Highland Lakes, Skylake, Single Family Homes Real Estate Market? - December 2018 Report
How is the Highland Lakes, Skylake Single Family Homes Real Estate Market?
There are currently 96 Highland Lakes, Highland Gardens, Skylake homes for sale (as of December 10, 2018)
- Highest priced listing: $3,200,000 in Skylake; for a 8 bedroom 8.1 bath home with a little bit over 7000 Sq. Ft of living area.
- Lowest priced listing: is a home in Highland Lakes at $225,000 - 3/1 home with 5,600 SF lot
- Pending Sales: 9
- Closed Sales: 4 (compared to 10 in October)
- In November the Average Sales Price was: $705,000; and
- The Average Sold Price per Sq. Ft was $232 vs. the Average Sold Price for October of $213
- The Average Days on the Market before Sold were 221 days
Let’s talk about overpriced listings that are sitting on the market and don’t sell. They become what I call “stagnant inventory”. The worst thing that can happen to a home is to start having one price reduction after another and data shows that overpriced listings sell below market value and take much longer to sell. It’s important know your product, to know your competition, and to price accordingly. An independent opinion based on the current condition of your home as compared to recent sales and a good appraisal is your best option.
Take a look at the following illustration:
The above illustration shows a figurative “pond” where the homes at the bottom of the pond “the Stagnant Mass” are not being considered most of the time because they are overpriced with respect to the condition and features of the home. You do NOT want your home to be at the bottom of the pond.
Featured Home:
We like a 1982 home in gated Coventry. This 6 bedroom 3.1 bathroom home features everything a family could want spread along 4450 sq. ft of living area. This home offers luxury living everywhere with premium upgrades galore, vaulted ceilings gourmet kitchen, tropically landscaped pool and spa, waterfall and slide. Immaculate home. Offered at $1,599,000 (383/SF).
Please contact us for additional information or to schedule a showing appointment for this and any other Aventura/Highland Lakes/Skylake home.
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