In an email conversation, I asked Petra Norris if she could tell me how many Lakeland properties have been listed on the market for more than six months. Care to make a guess?
537 properties for 180 – 364 days
152 properties for 365 – 544 days
50 properties for 545 days and more
That last number intrigued me. Homeowners that have been waiting more than a year and a half to sell. Of course, I had to make a map and Petra has a word or two of explanation:
From Petra Norris:
Ever wondered how long a home has been listed continually by a Realtor® in Lakeland or in your neighborhood, specifically? Recently, I did a study of homes listed for over one year. I have found that 194 homes have been on the market for over one year.
Putting 194 homes would be too crowded to put on my map. I created a list of homes that have been marketed here for over a 1 ½ years. Currently, there are 50 homes listed in this category and my breakdown below will give you an idea what the price range:
< $99k – 9 properties $100k - $149k – 12 properties $150k - $199k – 8 properties $200k - $299k – 4 properties $300k - $499k – 6 properties >$500k – 11 properties
Why are these properties still on the market? There could be various reasons, such as condition and location. The most important factor to selling a home is pricing. Pricing a home above market value will not sell your property in today’s market. If you are thinking about selling your home, contact your local Realtor® and ask for a Comparable Market Analysis (CMA).