Jupiter Single Family Home Sales

According to the Regional MLS there are 672 single family homes on the market in Jupiter and Jupiter Inlet Colony.
The median list price is $ 610,000 and the size is 2,672 ft.
That's $223 per square foot. Now consider this:
In the last 30 days 71 SF homes have sold. The average listing price for the sold homes was about $ 160/ft when they went under contract and they sold for about $ 148/ft or 93% of the asking price. And they had been on the market for 125 days.
This means the current homeowners who are trying to sell are $ 63 per square foot above the range in which houses are now selling. What do you think of this strategy?
Richard Sites
Realty Associates-FL Properties