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What's happening in the Flagler County Real Estate Market? Are sales increasing or falling, have active listings declined or advanced? What is the median price of sold properties, and the median price of active properties. The TwoLanes Real Estate Market Update will tell you. If you want it emailed to you on a monthly basis just send us the attached form. Your information will be held in the strictest confidence.
Attached is the latest monthly breakdown for market activity in Flagler County.
We have also attached links to current and past updates for your comparison.
TwoLanes Market Pulse January 2010
Just the Facts...
In summary, Flagler Beach active residential inventory remained fairly constant at 138 units. Solds dropped to 2 with a median sale price of just $132,000. As usual the
average price of expireds, actives, and new listings far exceeded the average price of solds. There were 3 lot sales with 2 of these being on Oceanshore Blvd. One lot sold for an amazing $188,000 and the other larger lot, extending back to Central, and with littorial rights sold for $245,000. There are 75 condos on the market, 1 sold for $180,000.
Palm Coast active residential listings dropped to a healthier 937 units. 91 actives sold, meaning there is about a 10 month supply of actives on the market, not a bad ratio. New residential listings and active residential listing pricing drew closer to the pricing of the solds.
The median sale price of a Palm Coast lot dropped to $9,900, in contrast the median price of expired lots was $40,000 and an active was $35,000.
Southern Peninsula active residential inventory dropped by 20%, a salt water canal lot 500 ft. from the ICW sold for $129,000 and no condo sales.
Northern Peninsula had some interesting activity. A direct oceanfront home listed at $750,000 sold for $430,000. Hammock Dunes had 3 condo sales, all direct oceanfront. One sold for $350,000, another for $500,000 and a 6th floor unit for $550,000.
...and Our Thoughts.
Some inventories, specifically residential in Palm Coast, show positive signs, meaning they are dropping. Other inventories, specifically lots anywhere, are still bloated.
So the universal question is “what’s selling”.
The answer is values are selling. That doesn't mean “cheap” as in dollar amount, even though there are plenty of those. It means the properties that are selling are priced at values according to what they were 2 or 3 years ago. Those values are in the marketplace and buyers are waiting for them, and finding them.
Contact us for any details or more information.
Regards,
Ben and Marie
January 2010
November 09
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April 2009
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January 2009
December 2008
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