Monday, May 21, 2012

MARKET UPDATE FOR WINFIELD TO MAY 20, 2012

Statistics as reported by the MidFlorida Listing Service MLS to May 20, 2012


Number of Homes offered for sale: 1
My own listing. Great house to see at 2016 Bobtail Dr.
3 bedrooms, 2 1/2 bathrooms, 1,966 sq. ft., large porch, bonus room upstairs, separate dining room.
Lots of light. Large porch. Must see.
Listed price: $ 185,000
Price per sq. ft. offered: $ 94.01 within market.

Number of Homes under contract: 3
Price range : $ 130,000 to $ 159,900
Average Price per sq. ft.: $ 93.81

Homes sold from May 20, 2011 to May 20, 2012 :  19
Price range from $ 115,000 to $ 187,500
Average price per sq. ft. sold: $ 82.68
Average price of home sold: $ 148,313
Average days in the market: 49
Bank owned sold: 6
Short sales sold: 9

Homes sold from May 20, 2010 to May 20, 2011: 13
Price range from $ 118,296 to $ 196,000
Average price per sq. ft. sold: $ 89.60
Average price of home sold: $ 155,196
Average days in the market: 99
Bank owned sold: 5
Short sales sold: 3

Last 6 months: Conditions are definitely improving.
Number of houses sold: 8 - Not many houses available for sale.
Price range of houses sold from $120,000 to $187,500
Average price per sq. ft. $ 84.24, above last 12 months average of $ 82.68
Average price per home sold: $ 149,304, compared to $ 148,313 last year average.
Average days in the market: 28, compared to 49, last year average.

 
Drop in sq. ft. sold in one year:  7.7%
Drop in price of home in one year: 4.4%

Prices keep dropping in Winfield at a much slower pace. In the last six months prices are moving upward and houses are selling faster. More buyers are coming into the market and this is reflected in the outstanding number of pendings, that is, houses under contract, to such extent that actually the houses available for sale are severely reduced to just one as of May 20. This may be a good sign that inventory, being so low, prices will begin to pick up in Winfield. First time buyers are taking advantage of affordable prices and investors are also a key factor in buying houses. This is a good time to put your house on sale. Prices of sold houses in the last year dropped 1.4% over the last asking price.

Distressed sales (bank-owned and short sales) account for 79% of all sales in this past year, short sales selling more than bank-owned properties,  and is an influencing factor in setting market prices. 


Houses sold in the last six months:

AddressSold Priceheat areaSold Date
2175 TORTOISE SHELL DR150,000     1,642 5/11/2012
2108 FALKNER RD120,000     1,822 1/31/2012
2160 FENNELL ST132,900     1,800 4/26/2012
7925 BIRMAN ST129,900     2,045 12/20/2011
1728 BOBTAIL DR160,000     1,802 5/1/2012
7942 BIRMAN ST154,230     1,802 12/29/2011
1950 BOBTAIL DR159,900     1,762 2/22/2012
1733 BOBTAIL DR187,500     1,642 1/31/2012

Feel free to contact me for further details whether selling or buying. I also do rentals.

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