The Savannah Luxury market is off to a promising start for 2012. With five transactions and a week or so to go before we move deeper into the the 1st quarter of 2012, we are already two transactions ahead of where we were a year ago at this time - let's take a look:
2011 Total Volume Sold January: $4,365,000
2012 Total Volume Sold January: $5,834,500
Further positive indication, the Average Days on Market (ADOM) has started to trend down.
$1,000,000+ priced properties experienced a slightly faster time to sell from a high of 682 days in January of 2011 to an ADOM of 542 days in January 2012.
It took 1082 days to sell THIS property! A perfect example of what happens when you do not price to market and there is a minimal marketing strategy in place.
Of course, Price to Market and marketing strategy are only part of what leads to the sale of a Luxury home. Purchasing a luxury property is as much an emotional and factor of taste as it is financial. What appeals to some buyers may be the exact same feature of a luxury property that turns other buyers off - it's subjective by nature. That said, one thing holds true regardless of taste - the more you "neutralize" or "depersonalize" the space the greater the likelihood that when your property is shown, buyers have an easier time envisioning themselves and their family in the space.
THIS property in the popular West Chatham gated golf course community Westbrook @ Savannah Quarters only spent 58 days on the market but sold @ 82% of the list price.
Of the 5 sales, two transactions were all cash transactions.
These two properties are the only two of the five Jan. 2012 sales that rang in the new year above 90% of the list price.
Lastly, HERE is a view of all five sales in comparative analysis format.
Ben Bowne is the Luxury Sales & Marketing Specialist with Savannah's leading luxury Real Estate firm Seabolt Brokers. An expert SEO & SMO strategist, Ben provides his clients with a comprehensive and dynamic marketing strategy blending all available mediums and outlets.
Contact Ben:
benbowne@seaboltbrokers.com
912.856.9867
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