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There were no new pendings and no sales recorded in August. There are 22 active listings currently, 13 in Boca and 9 in Bella. Activity in our market still remains deeply lethargic. There have been 19 price reductions on the current 22 actives, which is lower than last month – due in part to two listings being cancelled. There were 3 new listings in Vivante during August, they are 9047 (1,803sf) listed at $405,000, 96211 (1,915sf) at $450,000 and 8524 (2,338sf) at $668,000. All of these, it seems to me, recognise that new listings today need to be priced keenly; respectively, they’re at $225psf, $234psf in Boca (even with water views) and $286psf in Bella on the harbour. All of them are close to or below the average for all today’s listings.
I’ve written an article on the new legal forms we must use from 17th August for all buyers and sellers. The article can be found in the blog section of my website https://headforvivante.com/. After NAR’s settlement of the Sitzer-Burnett class action law suit the changes are systemic and it is therefore very important for both buyers and sellers to read and understand them. Please find and review the blog and, of course, feel free to call me for a layman’s guidance.
Happy Labour Day, 2024.
