(NICK GERLI - REAL ESTATE): BIG BOY PRICE CUTS IN FLORIDA BEGINNING TO HAPPEN!
READ THE ENTIRE NICK GERLI POST HERE!
BIG BOY PRICE CUT IN FLORIDA.
Original List: $525,000
Current Price: $295,000
42% reduction.
Back to 2015 Zestimate levels.
Watch out as these listings make their way into comps as year goes on. Especially in markets with bloated inventory levels...
1) One of the reasons the seller on this listing had to cut so much is because of massive oversupply in the market.
Inventory in Punta Gorda is up almost 800% from pandemic low in this ZIP code.
And is double pre-pandemic levels.
Thus: you need to cut massively to sell.
CONTINUED…
Hi Gary I have heard this guy complain for the last two years and the market has been doing really well. Nothing seems to break it.