Seminole County Home Sales
Posted by Lee Cameron on Friday, November 5th, 2010 at 10:22am.
One of the questions I get asked all the time is, of course, "how is the housing market going?" The answer really depends on one thing - are you buying or selling? If you're looking to sell your home, then prices are down and frankly now probably isn't a good time unless you really have to. But if you're looking to buy? The housing market is great for you!
Let's take a look at some of the numbers from Seminole County for the last month. They really give a good indication of where the market is right now.
In the last month, 595 properties went pending. The average time to contract was 118 days.
142, or approcimately 24%, of these properties were traditional sales.
143, another 24%, were bank owned properties.
310, about 52% of sales, were short sale properties.
So that confirms the rumors - at least for this month. Three quarters of the sales in the last month were bank properties.
I think the list prices for those pending properties is also interesting.
The average list price was $133,680. The lowest listing price was $10,000 and the highest was $829.900.
There were...
141 properties priced below $50,000
291 properties priced below $100,000
Only 17 properties priced over $400,000
So it's obvious that people are jumping all over the low priced homes. There are a lot of great deals out there right now, and not a lot of buyers. If you need a low priced home - especially $100,000 and lower - this is definitely the time to start looking. In fact, even for higher priced homes, $250,000 and higher, this is a great time to buy. There are so few buyers right now that sellers have to drop the prices drastically to get a contract. Of course, that means that once the buyers come back, the prices will stop going down. You definitely want to be at the front of the crowd if you're planning to buy a home in the near future.
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