Dennis Norman
According to a report issued today by Zip Realty, sellers in Florida are slashing prices by more than 10 percent
Dennis Norman
South Florida has deals on homes! According to Zip Realty, sellers in Miami and Ft. Lauderdale have reduced their list price by an average of nearly 15 percent, or $36,000 in February 2010. In addition, one out of every two “for sale” homes in Jacksonville included at least one price reduction in February.
In Orlando, 47.7 percent of homes listed for sale in February included at least one price reduction, with sellers on average reducing the list price 2.39 times — the highest of any of the 27 major housing markets that ZipRealty surveys monthly.
“Contrary to the national trend, sellers in Florida seem to be cutting their asking prices aggressively to attract buyer interest,” said ZipRealty CEO Pat Lashinsky. “First-time buyers looking to take advantage of the $8,000 tax credit, those looking for a second home and real estate investors are finding there are deals to be had in South Florida, Orlando and Jacksonville .”
Other highlights from the report include:
- The number of price-reduced homes on the market in Orlando rose 17.1 percent in February compared to January
- Miami has the second highest number of reduced-price homes available for sale nationally, though 4.7 percent fewer in February compared to January. Only Chicago has more price reduced homes listed for sale nationally
- Sellers in Miami/Ft. Lauderdale reduced their list price by 15 percent
on average — more than double the national average of 7.4 percent
Related posts:
- More Sellers Reduce Home Prices in September
- Home Sellers Slash Prices by $23,953 in November, a 3% Smaller Discount Than Last Month — According to ZipRealty
- Sellers Continue to Reduce Home Prices
- Fewer Home Sellers Cut Asking Prices for Homes
- Home Sellers Nationwide Reduced Prices By Almost $20,000 In April