New properties are listed in the MLS system but the number of price reductions is greater! Almost every day I witness the price reductions which seem to always be about twice the number of new properties for sale.
What does this say about our current market? To me, it looks as if the "older listings are coming around to the new [read as real] market!
Pressure from short sales and bank owned properties (REO) keeps pressure on the existing market. As sellers must compete with these distressed property sales, the prices seem to be following - downward. Good news for buyers, not for the sellers!
Interested in buying a home in Viera, Rockledge or Suntree Florida? Please give me a call. I would welcome a chance to assist you!
Gary Waters, Florida licensed real estate agent, Century 21 Baytree Realty, Rockledge, Florida. Call me at 321-693-3850 or email firstname.lastname@example.org.