Below are Palm Coast Real Estate Market Statistics for the Month of March 2010. This report features the non-golf course communities located west of I-95: Indian Trials, Pine Grove, Seminole Woods, Belle Terre and Lehigh Woods.
Once again we are seeing a very high number of pending home sales that are just not making it to closing. In order to get a feel for what is going on with this and how many of pending and contingent sales are falling through each month, I have added another category ” # of homes Back on the Market/Did not make it to closing” in addition to the category “# Taken off the Market/Did not Sell”
In a market where many are touting a decline in inventories, it is important to point out what is causing the decline in inventory. Is it because the homes are selling? Or is it because they are stuck in pending and contingent status waiting for short sale approval? Or is it because sellers are experiencing listing fatigue and just taking their homes off the market?
| March Market Statistics ~West of I-95 Non Golf Course Community | |||||||
|---|---|---|---|---|---|---|---|
| Neighborhood | Belle Terre | Lehigh Woods | Indian Trails | Pine Grove | Seminole Woods | ||
| For Sale Listings | |||||||
| # of Total Listings | 46 | 112 | 105 | 93 | 39 | ||
| #Bank Owned | 0 | 3 | 7 | 3 | 1 | ||
| # Short Sales | 18 | 61 | 38 | 48 | 22 | ||
| Distressed Listings | |||||||
| Total # Distressed | 18 | 64 | 45 | 51 | 23 | ||
| % of Distressed | 39% | 57% | 43% | 55% | 59% | ||
| Pending Sales | |||||||
| Total # Pending | 6 | 110 | 78 | 57 | 42 | ||
| #Bank Owned | 2 | 7 | 6 | 3 | 8 | ||
| #Short Sales | 4 | 93 | 60 | 49 | 30 | ||
| % Distressed | 100% | 85% | 85% | 91% | 71% | ||
| Just Sold | |||||||
| Total # Sold | 3 | 25 | 15 | 13 | 9 | ||
| # Bank Owned | 0 | 4 | 2 | 2 | 1 | ||
| # Short Sales | 2 | 16 | 4 | 7 | 3 | ||
| %Distressed | 67% | 80% | 60% | 70% | 100% | ||
| Price Statistics (Active) | |||||||
| Low Price | $89,000 | $75,000 | $69,900 | $89,500 | $83,000 | ||
| High Price | $294,900 | $329,000 | $449,500 | $380,000 | $275,000 | ||
| Median Price | $156,950 | $149,900 | $155,000 | $159,944 | $144,163 | ||
| Price Statistics (SOLD) | |||||||
| Low Price | $105,000 | $70,000 | $63,500 | $84,500 | $85,000 | ||
| High Price | $128,500 | $152,000 | $297,500 | $145,000 | $179,000 | ||
| Median Price | $144,900 | $115,000 | $124,900 | $110,000 | $135,000 | ||
| Price Per Sq Foot | $69 | $65 | $67 | $61 | $71 | ||
| % Discount Off Last List Price | 0% | 7% | 3% | 6% | 3% | ||
| Other Important Facts | |||||||
| Average Days on Market | 139 | 240 | 165 | 238 | 122 | ||
| # Taken Off Market/Did NOT Sell | 2 | 1 | 12 | 5 | 4 | ||
| # Back on the Market/Did Not Close Sale | 3 | 24 | 16 | 10 | 19 | ||