As we observe an overall increase in value of single family homes in South Florida, it is interesting to note, in an analysis of the tiered pricing study provided by the Index, that lower-priced homes are not contributing to the increase. The index defines a 'low priced' home in our market as under $144,203. As the attached chart shows, homes in that tier continue to decline while the middle and upper tiers rebound.
Clearly sellers of homes in that range should not 'test the market' but price their properties to secure a buyer as quickly as possible.
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