MARKET UPDATE TO SEPTEMBER 13, 2013

Statistics as reported by the MyFloridaRegional MLS to September 13, 2013

Homes available for sale: 2
Price range : $204,900 to $224,900
Average asking price: $ 214,900
Average price per square foot: $127.73
Type of transaction: One bank-owned, one normal (sold by a person or a corporation)

Homes with an accepted a contract, not yet closed:  3
Price range: $ 185,000 to $ 229,900
Average asking price: $ 211,300
Average price per square foot: $ 118.23
Average days in the market before contract: 13
Type of transaction : one bank-owned, one short sale, one normal.

Homes sold from Sept. 13, 2012 to Sept. 13, 2013 :  8
Price range from $ 162,000 to $ 245,000
Average price of home sold: $ 185,375
Average price per sq. ft. sold $ 106.39
Average days in the market: 19
Bank owned sold: 2
Short sales sold: 0
Normal: 6


Homes sold from Sept. 13, 2011 to Sept. 13, 2012: 13
Price range from $ 115,000 to $ 187,500
Average price of home sold: $ 147,173
Average price per sq. ft. sold: $ 82.85
Average days in the market: 42
Bank owned sold: 3
Short sales sold: 9
Normal: 1

Last 6 months:
Conditions have improved tremendously.
Number of houses sold: 6 - Out of 8 sold in the last 12 month.
Price range of houses sold:  from $165,000 to $245,000
Average price per sq. ft. $ 111.74, compared to $ 106.39 of the last 12 months.
Average price per home sold: $ 191,500, compared to $ 185,375 of the last 12 months.
Average days in the market: 20, compared to 19 of the last 12 months.

Increase in average price of homes sold year over year: 26.0%, a fabulous improvement.
Increase in average price per sq. ft. sold year over year:  28.4%, also a significant increase.

Inventory is extremely low, very few houses offered in the market. The number of distressed sales is tailing off as time progresses:  September 2011 to 2012 it was 92%, 2012 to 2013 same period it was 25%.  75% of houses sold in the last 12 months took place in the last 6 months which shows owners are now more willing to sell to take advantage of better prices.

First time buyers, because of still affordable prices and relatively low interest rates, and investors, most of them paying cash, are the main source of demand.

Conditions are  given to sell your house at an attractive price and in a relatively short time. This is a good time to put your house on sale.

This is the activity taking place in the last twelve months:

		Address		List Price	Sold Price		Sq. Ft.		LP/SqFt	SP/SqFt
FOR SALE		1878 BOBTAIL DR		204,900			1580		129.68
FOR SALE		2167 FENNELL ST		224,900			1788		125.78
WITH CONTRACT		1860 BOBTAIL DR		219,000			1740		125.86
WITH CONTRACT		1921 BOBTAIL DR		185,000			1590		116.35
WITH CONTRACT		7949 BIRMAN ST		229,900			2044		112.48
SOLD		BIRMAN ST		142,500	165,000		1266		112.56	130.33
SOLD		BOBTAIL DR		175,000	172,000		1966		89.01	87.49
SOLD		BOBTAIL DR		179,900	162,000		1739		103.45	93.16
SOLD		BOBTAIL DR		184,900	173,000		1494		123.76	115.8
SOLD		BOBTAIL DR		188,900	185,000		1494		126.44	123.83
SOLD		BIRMAN ST		189,000	184,000		1848		102.27	99.57
SOLD		BIRMAN ST		189,900	197,000		2045		92.86	96.33
SOLD		BOBTAIL DR		250,000	245,000		2343		106.7	104.57

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