Thinking about buying or selling a home in South Florida? Before you enter a competitive real estate market, you’ll want to have all the tools you need to succeed. Although it might be tempting to scour the latest listings on the MLS, there’s another strategy you should consider. Studying sold data can make a huge difference in your home sale or search—here’s how it works.
Why Sold Data Matters More Than You Think
Sold data is a useful tool for buyers, sellers, and agents alike—and it can also show you how the market is really doing.
What is sold data, and why is it useful?
Even if you don’t have a lot of real estate experience, you might be familiar with sold data. In a nutshell, it’s information about homes that have recently sold—such as the sold price, when it sold, and who sold it.
Our site makes it easy to keep up with the latest sold data throughout South Florida. You can also search by city, neighborhood, or even a specific street! Just check out our handy search tool and click on “Sold Listings” instead of “Active Listings” to get started.
How does it help sellers?
Want to scope out your competition? It’s important to stay up-to-date with active listings in your neighborhood, but you should also be keeping track of what sells.
Believe it or not, many listings on the MLS are overpriced, underpriced, or have been sitting on the market for months. And if you’re having trouble pricing your home, these properties could send you in the wrong direction. Doesn’t it make more sense to study homes that have already sold?
By checking out sold data, you’ll discover prices, selling strategies, and staging techniques that have actually worked. It can also give you a good idea of what buyers are looking for in your specific community!
How does it help buyers?
Believe it or not, sold data can also help buyers find the home of their dreams…for the right price. When you’re buying a home in South Florida’s hot market, it can be hard to know how much you should be paying. If you don’t want to waste time sorting through thousands of active listings, it might be time to change your approach.
As we mentioned, many homes on the market today just aren’t priced correctly. To see what homes are really selling for in your neighborhood of choice, try checking out the latest sold data. It’s the easiest way to know if you can afford a specific area—or find out if you’re about to snag the deal of a lifetime.
Ready to get started? Our search tool also has a map feature, which allows you to view sold data by location. You can even search by school district, budget, features, and so much more!
Bottom line: You should be using sold data!
In addition to studying active listings, it’s imperative to keep up with sold data to truly understand your local market. To make things simple, you can also create a saved search for a specific area with our personal property organizer.
Ready to Buy or Sell in South Florida?
If it’s time to take your next steps, we’d love to help you navigate your real estate journey from start to finish. Just give us a call for more information—we have plenty of buying and selling resources to get you started!