I read an interesting article last week claiming that our upper end real estate market in Leon County is in a slump. The underlying tone of the article was that “Luxury Homes Won’t Sell.” This caught me by surprise considering that our firm has had one of its strongest years when it comes to listing and closing high end properties.
In fact, we have been able to set the bar for some of the highest price per foot sales on luxury homes our community has seen, historically speaking.
All of this being said, it is important to note that our unique Tallahassee real estate market has a small percentage of active buyers seeking homes in excess of $800,000.
So, to understand that the higher end home does need longer market exposure than the average price point of $300,000 to $500,000 is a given and has always been the case in our community.
Therefore, when we do offer these luxury properties we must understand exactly who the target market is and through what avenues we can best reach them. We must think outside of the box and use a different philosophy to attract well qualified buyers; mainstream advertising is often not the most effective.
It is also important to make sure that prior to a luxury home being placed on the market that the property has been well staged, appropriately priced, and is in prime showing condition.
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Written by: Broker/Owner Jason Naumann
Featured in the Tallahassee Democrat: Article Source