ILHM Luxury Real Estate Analysis Tampa

Even in strong seller’s markets, the Percent Price Decreased will be 10-12%, so some repricing of individual properties is typical in any market. In weaker markets, this value begins rise into the teens, 20%, 30%, and higher. Percent Price Decreased is an incredibly insightful gauge of demand levels in the residential housing market.

This statistic illustrates just how many listed properties could possibly be behind the “price curve” – listed at a cost above what the market is willing to pay for similar properties.

However, “Percent Price Decreased” alone does not indicate the overall health of a particular market. This statistic should be combined with other market stats to discover the overall direction of a market.

The definition of this market stat is:

“Percentage of homes in the marketplace that have decreased their asking price at least one time within the last 90-day period.”

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The charts below show the 7-day and 90-day rolling averages for list price, days on market, and inventory for the metro area’s luxury market (e.g. top 10 zips with median prices above $500k)