So far this month, 15 MLS listed condos have sold and closed in Cocoa Beach and Cape Canaveral. While four of those units were listed for eight months or longer, six of the sold units were on the market less than 30 days. Also, of interest, is the fact that only one of the six quick sales offered less than 3% commission to the buyer's agent, one offered 4% and another offered 5%. (Readers of this blog can guess what complex that was.)
Quick takeaway for sellers; if you price it right, you stand a better chance of selling it quickly. Deduce what you will from the commission stats. I've already ranted about the distasteful implications of the inflated commission tactic, so, I won't go into it again. You can read my post from last year here if you missed it.
Inventory continues to shrink. Many of the weak hands have already had their day of reckoning. If you're looking for a steal be prepared to move quickly when the opportunity presents itself.
MLS Inventory Cocoa Beach/Cape Canaveral- Feb. 23, 2009
- Condominiums______698 all prices
- __________________93 over $500,000
- Single family homes__111 all prices
- __________________33 over $500,000