Home sales data shows a highly competitive market, with 707 homes sold for over the asking price. This indicates that many buyers are willing to pay more than the asking price to secure a desirable property. The number of homes sold under the asking price (1,367) and the number sold at asking price (380) also show that there is a range of pricing and negotiation happening in the market.
This data highlights the importance of proper pricing for sellers, as homes that are priced too high are less likely to sell quickly and may sell for less than the asking price. On the other hand, sellers who price their homes competitively are more likely to attract multiple offers and to sell their homes quickly and at a higher price.
For buyers, this data suggests that they may need to be prepared to bid over asking price to secure a home in a desirable location, and that they may face competition from other buyers. It's recommended that both buyers and sellers work with a real estate agent to understand the current market conditions and to make informed decisions.
If you or anyone you know is considering buying or selling a luxury property, please don't hesitate to reach out to Misraje Real Estate Partners. I have the expertise and experience to guide you through the market and make your real estate dreams a reality. DRE#01015912 - Misraje Real Estate Partners