Palm Coast Real Estate- Saltwater Market Report
Interesting data regarding Saltwater Canals & Intracoastal properties for the month of August. Inventories are decreasing and choices are disappearing off the market as buyers rush in to snatch up the low end bargains on single family Saltwater Canal Homes in Palm Coast. But, Flagler Beach and Intracoastal homes in Flagler County are not participating…no properties closed sale in these two markets for the month of August. Vacant lots are still hurting and until home prices stabilize and the cost of replacement once again becomes more affordable than buying a bargain existing home…this trend will continue. So why are vacant lots, Flagler Beach Canal Homes and Intracoastal homes not selling….simple answer PRICE!!!
Although only 10 Palm Coast Saltwater Canal Homes closed sale in August, there are currently 25 that are pending sale. Yipee…wait not so fast…of those Saltwater Canal Homes pending sale, 0 are bank owned (which is great news) but a whopping 80% of them are Short Sales. This is both good news and sort of disturbing news at the same time. The good news is that short sale inventory is being taken off the market and put under contract, the bad news, many of these sales will never make it to closing.
Below is a snapshot of the current real estate market in Palm Coast & Flagler County, FL
Palm Coast – Flagler County Homes for Sale Data – August 2009
|
ACTIVE LISTINGS
|
Palm Coast
|
Flagler Beach
|
Intracoastal Homes
|
Vacant Lots
|
|
# of Listings
|
108
|
15
|
58
|
173
|
|
Low Price
|
$189,000
|
$245,900
|
$299,900
|
$80,000
|
|
Average Price
|
$442,807
|
$455,973
|
$1,289,186
|
$314,325
|
|
Median Price
|
$408,500
|
$375,000
|
$997,500
|
$271,000
|
|
High Price
|
$990,000
|
$975,000
|
$6,950,000
|
$1,049,900
|
|
# Bank Owned
|
0
|
0
|
0
|
7
|
|
% Bank Owned
|
0
|
0
|
0
|
4%
|
|
# Short Sales
|
9
|
0
|
4
|
17
|
|
% Short Sales
|
8.3%
|
0
|
6.9%
|
9.8%
|
Palm Coast – Flagler County Homes Sold Data – August 2009
|
SOLD LISTINGS
|
Palm Coast
|
Flagler Beach
|
Intracoastal
|
Vacant Lots
|
|
# of Solds
|
10
|
0
|
0
|
5
|
|
Low Price
|
$180,000
|
No Sales
|
No Sales
|
$100,000
|
|
Average Price
|
$327,590
|
No Sales
|
No Sales
|
$141,620
|
|
Median Price
|
$312,500
|
No Sales
|
No Sales
|
$132,500
|
|
High Price
|
$725,000
|
No Sale
|
No Sales
|
$180,000
|
|
# Bank Owned
|
0
|
No Sales
|
No Sales
|
1
|
|
% Bank Owned
|
0%
|
No Sales
|
No Sales
|
20%
|
| |
|
|
|
|
|
# Short Sales
|
2
|
No Sales
|
No Sales
|
3
|
|
% Short Sales
|
20%
|
No Sales
|
No Sales
|
60%
|
| |
|
|
|
|
|
Absorption Rate
|
10 Months |
No Sales |
No Sales |
34 Months |
|
Type of Market
|
Buyer’s Market |
Strong Buyer’s Market |
Strong Buyer’s Market |
Very Strong Buyer’s Market |
Recently Sold Saltwater Canal Homes in Palm Coast, FL
|
Address
|
Price
|
Beds
|
Baths
|
LivingSqFt
|
Pool
|
Type Of Sale
|
YearBuilt
|
PPerSqFt
|
|
19 COOL WATER CT
|
$ 240,000
|
3
|
2
|
2090
|
Yes
|
Short Sale
|
1989
|
$115
|
|
4 FLORENCE COURT
|
$ 225,000
|
3
|
2
|
1800
|
No
|
|
1986
|
$125
|
|
10 S CLAYMONT CT
|
$ 180,000
|
3
|
2
|
1376
|
Yes
|
|
1982
|
$131
|
|
24 CROSSBOW CT
|
$ 330,000
|
3
|
2
|
2484
|
Yes
|
|
1986
|
$133
|
|
19 COLONY CT
|
$ 295,000
|
3
|
2
|
2175
|
Yes
|
|
1984
|
$136
|
|
8 CORNING CT
|
$ 180,000
|
2
|
2
|
1300
|
Yes
|
|
1981
|
$138
|
|
10 CORNING COURT
|
$ 350,000
|
3
|
3
|
2514
|
Yes
|
Short Sale
|
1995
|
$139
|
|
101 COVINGTON LN
|
$ 415,900
|
4
|
2
|
2661
|
Yes
|
|
2004
|
$156
|
|
24 CLARENDON CT S
|
$ 335,000
|
3
|
2
|
2050
|
Yes
|
|
1996
|
$163
|
|
3 VILLAGE PT
|
$ 725,000
|
3
|
2
|
3059
|
Yes
|
|
2004
|
$237
|
|
37 ISLAND ESTATES PKWY
|
$ 1,500,000
|
4
|
4
|
5445
|
Yes
|
Lender Owned
|
2007
|
$275
|
Are you ready to start your search for your future home??
Featuring everything from bank-owned foreclosed homes under $100K up to luxurious Oceanfront Homes and Condominiums...you will find everything you need when searching for Palm Coast & Flagler County Florida real estate all in one place.
Kristi Ross - REALTOR - With over 14 years of experience in buying, selling, managing & investing in real property personally in addition to being a very active, full time REALTOR in Palm Coast/Flagler County, Florida for 8 years and also a Licensed Colorado Broker....I have learned that information is power and I am an advocate for customer empowerment. Let my expertise with data analysis, information technology, proven negotiating strategies and a portfolio of hundreds of satisfied customers and closed real estate transactions benefit you when buying or selling real estate is Palm Coast & Flagler County, FL. I am also, sometimes unfortunately during these tough times, very seasoned and experienced with bank owned foreclosures and short sales….if you are looking for a REALTOR to handle your most important transactions….contact me today….@ PalmCoastMLS@gmail.com
Martin Collins – REALTOR – Florida Licensed in Real Estate since 2003 and over $40 Million in sales covering full range of properties, including: Short Sales, Commercial Property, High End Gated Communities, Vacant Land, Water Front Properties, Golf Communities, Rental Properties I have developed a broad customer base in both the U.S. and Internationally. My goal is to assist both buyers and sellers achieve their ideal goals in today’s diverse real estate market. For professional service and real estate representation with integrity…contact me today @ PalmCoastMLS@gmail.com
*All Information is gathered from the FLGMLS and is deemed reliable but not guaranteed
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