Market Update to December 23, 2012

Statistics as reported by the MidFlorida Listing Service MLS to December 23, 2012


Number of Homes offered for sale: 0

Number of Homes under contract: 1
Price  : $175,000
Average Price per sq. ft.: $ 89.01

Homes sold from Dec. 24, 2011 to Dec. 23, 2012 :  9
Price range from $ 120,000 to $ 187,500
Average price per sq. ft. sold: $ 85.61
Average price of home sold: $ 153,714
Average days in the market: 12
Bank owned sold: 3
Short sales sold: 5

Homes sold from Dec. 24, 2010 to Dec. 23, 2011: 14
Price range from $ 115,000 to $ 196,000
Average price per sq. ft. sold: $ 79.21
Average price of home sold: $ 147,694
Average days in the market: 94
Bank owned sold: 5
Short sales sold: 4

Last 6 months: Conditions have improved tremendously.
Number of houses sold: 5 - Not many houses available for sale.
Price range of houses sold from $120,000 to $162,000
Average price per sq. ft. $ 84.83, slightly lower than last 12 months average of $ 85.61 due to mix.
Average price per home sold: $ 151,226, compared to $ 153,714 last year average also due to mix.
Average days in the market: 16, compared to 12, last year average.

Increase in sq. ft. sold average year over year:  8.1% For the first time it is an increase.
Increasein average price of home year over year: 4.1%. For the first time it is an increase.

Prices have reacted very favorably for homeowners. For the first time increases are observed in price per sq. ft. and in home prices. Inventory is extremely low, very few houses offered in the market. However, distressed homes still dominate the market. Last year this segment was 64% of total sales and this past year 88%. In Winfield, this segment is above the metropolitan Orlando which is 49% of total sales. To this date, the only house which is under contract is a normal sale. No houses are now available for sale.

First time buyers are taking advantage of affordable prices and investors are also a key factor in buying houses. Low interest rates are also an attraction to buy, although conditions to approve a loan are now very stiff. This is a good time to put your house on sale.
Houses sold in the last six months:

Address                      Sold Price      Area             Sold Date
2108 FALKNER RD 120,000 1822 7/8/2011 1728 BOBTAIL DR 160,000 1802 9/26/2011 7942 BIRMAN ST 154,230 1802 9/23/2011 1950 BOBTAIL DR 159,900 1762 11/8/2011 1644 BOBTAIL DR 162,000 1739 9/5/2012
Feel free to contact me for further details whether selling or buying. I also do rentals.