Thursday, August 28, 2014

MARKET UPDATE TO AUGUST 28, 2014

Statistics as reported by Matrix to August 28, 2014

Homes available for sale: 2
Price range from $205,000 to $229,900
Average Price: $217,450
Average Price per Square Foot: $ 130.38
Type of sale: 1 short sale, 1 normal sale (not short sale, not bank-owned)

Homes with an accepted a contract, not yet closed:  0

Homes sold from August 28, 2013 to August 28, 2014:  10 in MLS
Price range from $ 163,000 to $ 229,900
Average price of home sold: $ 189,180
Average price per sq. ft. sold $ 110.55
Average days in the market: 83
Bank owned sold: 2 - Short sales sold: 2
Normal: 6  - Percent distressed: 40

Homes sold from August 28, 2012 to August 28, 2013: 8
Price range from $ 162,000 to $ 245,000
Average price of home sold: $ 183,375
Average price per sq. ft. sold: $ 106.38
Average days in the market: 18
Bank owned sold: 2
Short sales sold: 0
Normal: 6 – Percent distressed: 25

Last 6 months: 
Conditions still are good, few houses in the market.
Number of houses sold: 4 - Out of 10 sold in the last 12 months. 
Price range of houses sold:  from $170,000 to $ 199,900
Average price per sq. ft. $ 112.23, compared to $ 110.55 of the last 12 months. 
Average price per home sold: $ 188,725, compared to $ 185,375 of the last 12 months.
Average days in the market: 118, compared to 83 of the last 12 months.
.
Increase in average price of homes sold year over year: 2.0%, a modest price increase. This percent increase has been coming down in the last analyses. Increase in average price per sq. ft. sold year over year:  3.9%, 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 and for investors looking at other markets.

40% of sales this past year were distressed sales (short sales and bank-owned), compared to the previous 12-month year of 25%. However, this percent is very low compared to a few years ago when distressed sales were over 60%.

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.

1909 Bobtail Dr, 1824 Bobtail Dr and 2137 Fennel Rd acquired in public auction are expected to be coming in the market. 

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
Available for sale           
2143 FENNELL  ST          205,000            1,382 148.34  
7955 BIRMAN  ST          229,900            2,045 112.42  
           
Under Contract None        
           
Sold          
2109 KORAT LN           170,000          163,000          1,382 123.01 117.95
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
2163 TORTOISE SHELL DR           179,000          170,000          1,536 116.54 110.68
2167 FENNELL ST           199,000          199,000          1,788 111.30 111.30
1860 BOBTAIL DR           199,900          195,000          1,740 114.89 112.07
2149 FENNELL ST           199,900          199,900          1,689 118.35 118.35
1950 BOBTAIL DR           199,900          190,000          1,762 113.45 107.83
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
2120 Tortoise Shell  N/A           150,000          1,427 By owner 105.12
8028  Birman St.  N/A           150,000          1,739 Auction 86.26

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