MARKET UPDATE FEBRUARY 23 2014

Statistics as reported by the MyFloridaRegional MLS to February 23, 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 $199,900

Average price: $ 181,940

Average price per square foot: $ 117.15
Type of transaction:  one bank-owned, two short sales, two normal.

Homes sold from February 23, 2013 to February 23, 2014:  9
Price range from $ 165,000 to $ 245,000
Average price of home sold: $ 197,989
Average price per sq. ft. sold $ 110.44
Average days in the market: 17
Bank owned sold: 2
Short sales sold: 0
Normal: 7  - Percent distressed: 22


Homes sold from February 23, 2012 to February 23, 2013: 7
Price range from $ 132,900 to $ 172,000
Average price of home sold: $ 156,243
Average price per sq. ft. sold: $ 88.70
Average days in the market: 13
Bank owned sold: 3
Short sales sold: 3
Normal: 1 – Percent distressed: 86

Last 6 months:
Conditions still are good, few houses in the market.
Number of houses sold: 3 - Out of 9 sold in the last 12 month.
Price range of houses sold:  from $199,000 to $229,900
Average price per sq. ft. $ 107.84, compared to $ 110.44 of the last 12 months.
Average price per home sold: $ 210.967, compared to $ 197,989 of the last 12 months.
Average days in the market: 13, compared to 17 of the last 12 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:  24.5%, 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 than in the last six months, 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:  February 23, 2012 to same date 2013 it was 85%, 2013 to 2014 same period it was 22%.  33% 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	199900		1740	114.89
Under Contract
2109 KORAT LN	170000		1382	123.01
1878 BOBTAIL DR	174900		1580	110.7
1921 BOBTAIL DR	175000		1590	110.06
2163 TORTOISE SHELL DR	189900		1536	123.63
2149 FENNELL ST	199900		1689	118.35
Sold
8009 BIRMAN ST	142500	165000	1266	112.56	130.33
1830 BOBTAIL DR	184900	173000	1494	123.76	115.8
2047 BOBTAIL DR	188900	185000	1494	126.44	123.83
8016 BIRMAN ST	189000	184000	1848	102.27	99.57
7931 BIRMAN ST	189900	197000	2045	92.86	96.33
2167 FENNELL ST	199000	199000	1788	111.3	111.3
1795 BOBTAIL DR	209000	204000	2045	102.2	99.76
7949 BIRMAN ST	229900	229900	2044	112.48	112.48
1800 BOBTAIL DR	250000	245000	2343	106.7	104.57

Contact me for any further information at urrug4@aol.com or 407 421 9091
Visit my website www.benjaminrealtor.com for market tidbits and updates.

 I also do rentals.