Winter Park FL Real Estate - Selling a Luxury Home Can Take a Long, Long Time

If you own a Winter Park FL luxury home, how fast ... or s-l-o-w ... do you want to sell your house?

Given the current selling rate and the high inventory of luxury properties for sale in Winter Park FL, it could easily take as long as 2 years for buyer to come along.

Data drawn from the My Florida Regional Multiple Listing Service during a recent 6-month period in 2009.

Since only 8 buyers on average purchase a Winter Park FL luxury house during any one month, it’s pretty clear there aren’t enough buyers to go around for those homes currently on the market, not to mention all the other properties that will come on the market in the weeks and months to come.

Almost all Winter Park FL homeowners who currently have luxury properties on the market will have to wait at least 1 year to sell their homes, with some having to wait more than 2 years.

With only 8 homes being sold every month — and not taking into account that more homes will come on the market every day — it will take 22 months on average for homeowners who want to sell ... to actually sell.

That’s a very long time to wait waste.

Since there’s plenty of competition and very few buyers, luxury homeowners must make some very important decisions once they jump into the marketplace.

When setting the initial list price ...

• Do you test the waters with a generous price and effectively eliminate many serious buyers from contention?
• Or do you set the price according to prevailing market value?

If your property isn’t getting many showings ...

• Do you stick to your initial list price?
• Or do you progressively and consistently lower the price until interest picks up?

If you keep the above choices in mind, you may very well beat the odds!