Thursday, July 24, 2014

MARKET UPDATE JULY 24, 2014

Statistics as reported by Matrix to July 24, 2014

No Homes available for sale

Homes with an accepted a contract, not yet closed:  2
Average Price: $189,450
Price Range: $179,000 to $199,900
Price per square foot: $ 115.0
Number of days in the market: 144
Type of transaction:  1 short sale, 1 normal.

Homes sold from July 24, 2013 to July 24, 2014:  9 in MLS
Price range from $ 163,000 to $ 229,900
Average price of home sold: $ 189,422
Average price per sq. ft. sold $ 111.42
Average days in the market: 61
Bank owned sold: 2 - Short sales sold: 1
Normal: 6  - Percent distressed: 33

Homes sold from July 24, 2012 to July 24, 2013: 8
Price range from $ 162,000 to $ 245,000
Average price of home sold: $ 183,363
Average price per sq. ft. sold: $ 103.85
Average days in the market: 19
Bank owned sold: 2
Short sales sold: 1
Normal: 5 – Percent distressed: 38

Last 6 months: 
Conditions still are good, few houses in the market.
Number of houses sold: 6 - Out of 9 sold in the last 12 months. 
Price range of houses sold:  from $163,000 to $ 204,000
Average price per sq. ft. $ 110.64, compared to $ 111.42 of the last 12 months. 
Average price per home sold: $ 183,817, compared to $ 189,422 of the last 12 months.
Average days in the market: 86, compared to 61 of the last 12 months.
.
Increase in average price of homes sold year over year: 3.3%, 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.

No house for sale at this point. The number of distressed sales is tailing off as time progresses. 66% 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
           
Under Contract          
2163 TORTOISE SHELL DR 
179000.00   1536.00 116.54  
1950 BOBTAIL DR 
199900.00   1762.00 113.45  
 
         
Sold
         
2109 KORAT LN 
170000.00 163000.00 1382.00 123.01 117.95
1878 BOBTAIL DR 
174900.00 166000.00 1580.00 110.70 105.06
1921 BOBTAIL DR 
175000.00 175000.00 1590.00 110.06 110.06
1830 BOBTAIL DR 
184900.00 173000.00 1494.00 123.76 115.80
2167 FENNELL ST 
199000.00 199000.00 1788.00 111.30 111.30
1860 BOBTAIL DR 
199900.00 195000.00 1740.00 114.89 112.07
2149 FENNELL ST  199900.00 199900.00 1689.00 118.35 118.35
1795 BOBTAIL DR  209000.00 204000.00 2045.00 102.20 99.76
7949 BIRMAN ST  229900.00 229900.00 2044.00 112.48 112.48
8028 BIRMAN ST N/A 156500.00 1739.00 auction 89.99
2133 FALKNER RD
N/A 142000.00 1779.00 by owner 79.82