Jacksonville Homes For Sale Lead the Nation in Price Slashes!
This is not the best news! Based on a recent Trulia study, Jacksonville tops the nation in price cutting with 36% of all homes that get listed for sale, end up dropping their price. This tells me those homes were over priced when they were originally put on the market for sale. The Times Union did a story on this.
If you have a home to sell in Jacksonville, FL, do not fall victim to Nostalgia Pricing. Definition: Dreamy price appreciation of 2005.
Instead, price it correctly for today’s real estate market, and watch it sell! The buyers are out, looking, and making offers. They want a Deal! Don’t get passed up by the Buyer who says “Their dreaming” after seeing your asking price.
When we look at waterfront homes in Jacksonville and Ponte Vedra, the average % sold price compared to list price is 11% median for the year. That is far better than 36%. However, this only accounts for the sold waterfront properties. I’m seeing 6 digit price drops on some Jacksonville waterfront homes in order to bring them in line with the current market.