I am pleased to announce another new service from the Pavlik Real Estate Group.  We have now been compiling our our own sales statistics directly from the MLS.  This will allow homesellers to see how many pending sales are happening each month by price range and county versus the number of homes on the market.  

News are showing swelling inventories of homes for sale.  This is not always the case. Our July/August Numbers are in the luxury market is holding steady.  The number of Condos in Dade County for sale over $1million has DECREASED from 1907 to 1813 since March.  The segment that is hardest hit is the entry level market from $150,000 to $250,000 where inventories have swelled from 6532 to 7794.  

How do sales compare to inventory levels for the same groups?  For $1m+ the number of pending sales dropped from 66 to 39.   This means that the chances of selling your luxury condo are 39 out of 1813.  That is only a 2.15% chance of selling ( 1 out of every 45 ).  The entry level market  between $150,000 to $250,000 your chances of selling are 236 out of 7794, which is a 3% chance (1 out of 33).

What does this mean to sellers?  It means that you must be very aggressive and look carefully in your neighborhood and price your property in a way that you are offering the best deal possible since chances are that only 1 out of every 45 condos (33 in lower price range) will sell each month.