Monday, June 23, 2014

MARKET UPDATE TO JUNE 22, 2014

Statistics as reported by Matrix to June 22, 2014

Homes available for sale: 1
Price : $ 199,900
Price per square foot: $ 113.45
Type of transaction: Normal (sold by a person or a corporation)

Homes with an accepted a contract, not yet closed:  1
Price: $179,000
Price per square foot: $ 116.54
Number of days in the market: 230
Type of transaction: short sale

Homes sold from June 23, 2013 to June 22, 2014:  10
Price range from $ 163,000 to $ 245,000
Average price of home sold: $ 194,980
Average price per sq. ft. sold $ 110.74
Average days in the market: 59
Bank owned sold: 2 - Short sales sold: 1
Normal: 7  - Percent distressed: 30

Homes sold from June 23, 2012 to June 2, 2013: 7
Price range from $ 142,500 to $ 189,000
Average price of home sold: $ 174,557
Average price per sq. ft. sold: $ 103.75
Average days in the market: 17
Bank owned sold: 2
Short sales sold: 1
Normal: 4 – Percent distressed: 43

Last 6 months: 
Conditions still are good, few houses in the market.
Number of houses sold: 5 - Out of 10 sold in the last 12 months. 
Price range of houses sold:  from $163,000 to $ 199,900
Average price per sq. ft. $ 112.70, compared to $ 110.74 of the last 12 months. 
Average price per home sold: $ 179,780, compared to $ 194,980 of the last 12 months.
Average days in the market: 101, compared to 59 of the last 12 months.
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Increase in average price of homes sold year over year: 12%, still a good price increase. This percent increase has been coming down in the last analyses. Increase in average price per sq. ft. sold year over year:  7%, a modest increase. Prices have suffered and are not as bright as before.

It is taking longer to sell. This is the result of slow demand prompted by stiffer conditions imposed by lenders or for selling prices not correctly set from the very beginning.

There is only house for sale. The number of distressed sales is tailing off as time progresses:  April 27, 2012 to same date 2013 it was 43%, 2013 to 2014 same period it was 30%.  50% of houses sold in the last 12 months took place in the last 6 months which still 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 if well priced. . This is a good time to put your house on sale.

For any questions, please call me at 407 421 9091 or email me at urrug4@aol.com . I also do rentals in Winfield.

These are sales of the last twelve months:

Address List Price Sold Price Sq. Ft. LP/SqFt SP/SqFt
For Sale
1950 BOBTAIL DR          199,900 1762 113.45
Under Contract
2163 TORTOISE SHELL DR          179,000 1536 116.54
Sold
1878 BOBTAIL DR           174,900          166,000          1,580      110.70 105.06
1921 BOBTAIL DR           175,000          175,000          1,590      110.06 110.06
2167 FENNELL ST           199,000          199,000          1,788      111.30 111.3
1860 BOBTAIL DR           199,900          195,000 1740      114.89 112.07
2149 FENNELL ST           199,900          199,900          1,689      118.35 118.35
1795 BOBTAIL DR           209,000          204,000          2,045      102.20 99.76
7949 BIRMAN ST           229,900          229,900          2,044      112.48 112.48
8028 BIRMAN ST N/A          156,500          1,739 89.9942
2133 FALKNER RD  N/A           142,000          1,779 79.8201
2109 KORAT LN          170,000          163,000          1,382      123.01 117.95
1800 BOBTAIL DR          250,000          245,000          2,343      106.70 104.57
1830 BOBTAIL DR          184,900          173,000          1,494      123.76 115.8