Sausalito's Updated Statistics
Posted by Lee Cameron on Thursday, August 5th, 2010 at 10:07am.
Let's talk about the new updated statistics for one of my favorite neighborhoods - Sausalito in Casselberry. I know, I've talked about Sausalito before, but as a former resident I really can't help singing the praises of this beautiful, affordable community. With amenities like tennis courts, a playground, a clubhouse and private access to Lake Howell, you really can't go wrong.
In the last two months, Sausalito has had three homes go on the market with an average listing price of $152,133. These homes have 2-3 bedrooms and 2 baths, and an average square footage of 1,507. One of the homes - a 2 bedroom, 2 bath, 1213 square foot home priced at $129,900 - is a bank-owned property.
Now let's look at how Sausalito has done over the past year.
- There were 8 properties sold in Sausalito in the last 12 months.
- The listing prices of these homes ranged from $134,900 to $178,000 with an average list price of $149,588.
- The final sold price for these homes ranged from $103,250 to $164,500 with an average sold price of $139,343.
As you can see, the homes recently listed on the market are priced at the higher end of the scale so it's uncertain whether they will sell at that price. Looking back 24 months reveals another interesting detail - the average sold price has dropped nearly $20,000 in the last two years from $157,000 to the current $139,000. However, in the period of 2008 to 2009, only three homes were sold in Sausalito, whereas in 2009 to 2010, seven homes were sold. This tells us that the newer, lower average sold price is more in line with the current market. It isn't so much that the market is still falling, but that Sausalito's prices now more accurately reflect the current conditions than they did two years ago. And a $20,000 pricing drop is nothing compared to some of the frightening drops that other area communities have seen in the last few years.
Overall, I continue to believe that Sausalito is one of Central Florida's hidden gems. Like everywhere else, bank-owned properties and short sales have brought the prices down, but when the market rebounds look for this wonderful community to bounce back in a big way.
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