A Look at the Statistics of Sausalito, Casselberry
Posted by Lee Cameron on Friday, April 2nd, 2010 at 1:05pm.
There's a lot of misinformation and speculation out there about the housing market right now. Opinions can vary wildly about where our market is, what it's doing and where it's going. But, as always, the truth is in the real numbers. So starting with this blog I'm going to begin to take a look at some of our local neighborhoods more closely and examine the recent market statistics and see what, if anything, we can determine from the real numbers.
Today's subject: one of my favorites - Sausalito and Sausalito Shores in Casselberry. First, some basic stats.
-Over the last two months, Sausalito has had 11 homes for sale on the market.
-The listing prices range from $114,000 to $179,000 with an average listing price of $145,700.
-The average square footage of these Sausalito homes is 1,525.
-Out of these 11 homes, at least 8 of them are bank-owned or short sales.
-Out of these 11 homes, 3 have pending contracts on them.
-The highest priced home with a pending contract is listed at $170,000, is 1,444 square feet and is in immaculate condition. I don't know if this home will actually appraise at that price, however. It will be interesting to see!
-The other two homes with pending contracts are also the lowest priced homes in the neighborhood at $114,000 and $120,000.
So what does this tell us? First of all, obviously, buyers like a deal. Two of the three homes with pending contracts are the lowest-priced homes in the community. If a seller truly wants to sell their home they should always list it at a lower price than their reasonable competition. This seems like common knowledge, but with so much that goes into selling a home and so many needs on the part of the seller, it can often be forgotten. The third home with a pending contract is listed towards the high end of the neighborhood, but it is also in immaculate condition. Condition and presentation still matter. Buyers will often consider a higher-priced but well-maintained house to be a better deal than a lower-priced house that they will have to sink money into to fix up.
Now let's take a look at some of the homes that have sold in Sausalito in the last year.
-There were 5 homes sold in Sausalito in the last year.
-The listing prices of these homes ranged from $152,000 to $170,000 with an average price of $165,180.
-The final sold prices of these homes ranged from $125,000 to $164,500 with an average price of $142,500.
Again what does this tell us? Though the average listing price has dropped nearly $20,000 in the last year, that rate is much better than many other areas and shows that Sausalito and Sausalito Shores owners have a much better handle on the market and have learned to price their homes accordingly. Seller expectations are catching up to the market rate and that means a more stable housing market for everybody.
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