In luxury real estate markets like Grey Oaks, sellers asking 16% above market value (median asking price $1,160/sq ft vs. median sold price $1,004/sq ft) cause homes to sit longer and close at lower values, with buyers consistently negotiating an average 7-point concession from list price; aggressive pricing strategies do not increase home value but rather result in longer market time and lower final sale prices.
Deep Dive
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Deep Dive
Why you should never pay list price in Grey Oaks.Added:
Grey Oaks sellers are asking 16% above what the market is actually paying. The data is straight from the MLS.
365 days of Grey Oaks data. Active listings today, median asking price of $1,160 per square foot. Closed sales over the same window, median sold price of $1,004 per square foot. That gap is 16%. When the closings happen, the average concession from list to sold is about seven points. So, sellers ask high, the market negotiates them down, and the difference between aggressive pricing and realistic pricing shows up at the closing table.
The largest single concession last year was 1.5 million off the asking price.
The lesson, if you're buying in Grey Oaks, the list price is not the price.
If you're selling, asking 16% above the market does not make your home worth more. It makes it sit longer and trade lower. The buyers know the data.
Follow for more Naples luxury market truths most agents don't show you.
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