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Monday, January 04, 2010

List to Sell Ratio – the real story behind prices in Brevard County Florida Real Estate

You often hear things like “Brevard County Florida real estate market has lots of good deals” but what does that mean?

Does it mean they are giving away houses in Viera Florida? Does it mean that the sellers in Baytree Golf Course in Suntree are just unloading houses? Does it mean the short sales in Brevard County have pulled all the prices down to their level?

One indicator of the pricing efficiency and seller motivation is the list to sell ratio. This is simply the selling price divided by the listing price. What it reveals is how much the sellers are willing to negotiate? Or, in my opinion, how much the price was padded!

The list to sell ratio for Brevard County Florida has been running in the 92-94% range for a while. This tells me that the prices may still be a bit optimistic.

This ratio can vary greatly depending on the neighborhood. I know some where the competition has made the sellers realize the list price has to be comparable to the competition!

If you are considering buying a home or condo in Brevard County, Florida, ask your real estate agent about the the ratio of the selling and listing prices.

This will tell you several things...about the price and your real estate agent's knowledge! Both very important!

For information on the Brevard County, Florida real estate market, call me at 321-693-3850 or email Gary Waters, Florida licensed real estate agent, Century 21 Baytree REalty, Rockledge, Florida.

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