MARKET UPDATE TO JANUARY 22, 2014

Statistics as reported by the MyFloridaRegional MLS to January 22, 2014

Homes available for sale: 1

Price: $199,900

Price per square foot: $ 114.89

Type of transaction: Normal (sold by a person or a corporation).

Homes with an accepted a contract, not yet closed:  5

Price range from $170,000 to $209,000

Average price: $ 183,760

Average price per square foot: $ 113.92

Type of transaction:  one bank-owned, two short sales, two normal.

Homes sold from January 22, 2013 to January 22, 2014:  8
Price range from $ 165,000 to $ 245,000
Average price of home sold: $ 197,238
Average price per sq. ft. sold $ 111.77
Average days in the market: 18
Bank owned sold: 2
Short sales sold: 0
Normal: 6  - Percent distressed: 25

Homes sold from January 22, 2012 to January 22, 2013: 9
Price range from $ 120,000 to $ 187,500
Average price of home sold: $ 155,689
Average price per sq. ft. sold: $ 90.00
Average days in the market: 11
Bank owned sold: 3
Short sales sold: 4
Normal: 2 – Percent distressed 78

Last 6 months:
Conditions still are good, few houses in the market.
Number of houses sold: 3 - Out of 8 sold in the last 12 month.
Price range of houses sold:  from $173,000 to $229,900
Average price per sq. ft. $ 113.20, compared to $ 111.77 of the last 12 months.
Average price per home sold: $ 200,633, compared to $ 197,238 of the last 12 months.
Average days in the market: 13, compared to 17 of the last 18 months.

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Increase in average price of homes sold year over year: 26.7%, a fabulous improvement.
Increase in average price per sq. ft. sold year over year:  25.6%, also a significant increase. This pace is not sustainable and more likely these percentages will begin to level off slightly. The under contract houses and the only one active house have lower average price per home and average price per square foot, meaning demand is slowing down and prices are being retreated somewhat.

There is only one house in inventory. The number of distressed sales is tailing off as time progresses:  January 22, 2012 to same date 2013 it was 78%, 2013 to 2014 same period it was 25%.  38% 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	1860 BOBTAIL DR	199,900		1,740	114.89
in Contract	1795 BOBTAIL DR	209,000		2,045	102.2
in Contract	2109 KORAT LN	170000		1382	123.01
in Contract	1878 BOBTAIL DR	174,900		1,580	110.7
in Contract	1921 BOBTAIL DR	175000		1590	110.06
in Contract	2163 TORTOISE SHELL DR	189,900		1,536	123.63
Sold	8009 BIRMAN ST	142,500	165000	1,266	112.56	130.33
Sold	1830 BOBTAIL DR	184900	173000	1494	123.76	115.8
Sold	2047 BOBTAIL DR	188,900	185000	1,494	126.44	123.83
Sold	8016 BIRMAN ST	189000	184000	1848	102.27	99.57
Sold	7931 BIRMAN ST	189,900	197000	2,045	92.86	96.33
Sold	2167 FENNELL ST	199000	199000	1788	111.3	111.3
Sold	7949 BIRMAN ST	229,900	229900	2,044	112.48	112.48
Sold	1800 BOBTAIL DR	250000	245000	2343	106.7	104.57

For any further details please call me or send me a message to urrug4@aol.com. I also do rentals.