Changing Palm Coast/Flagler Real Estate Listing Prices – Some Sellers are Raising Them
Sensing an upturn in the local real estate market, some sellers are raising their listing prices.The ”buyers market” mentality that prevailed for the past six years has finally been broken.
Palm Coast, FL – May 18, 2013 – Another change in the wind of Palm Coast and Flagler County’s real estate market has been observed. Yesterday and through 10:20 A.M. today, 17 sellers changed the price of their MLS-listed properties. Remarkably, five of them chose to increase rather than decrease the asking price. The “buyers market” mentality that prevailed for the past six years has been broken.
The properties with listing price increases included a Central Ave. S. Flagler Beach home, a Beechwood Lane home in Indian Lakes, a Hammock Beach one-bedroom condo, a South Beach condo in Flagler Beach and a Hammock Beach home site.
After a couple of years of increasing sales and decreasing housing inventory, some sellers are finally seeing the light and are confident enough to raise their listing prices. The pendulum is finally swinging back. Inertia is a powerful force in the real estate market. When the bottom dropped out of our local market after peaking in June 2005, median home selling prices continued to rise another 21.2 percent by December 2005. During that same six-month period, the number of homes sold plummeted 48.5 percent.
Currently, only 782 single-family Flagler County homes are MLS listed. Based on April’s sales (205 homes), this inventory represents only 3.8 months of supply, a level typically regarded as indicating a STRONG sellers market.
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