October 2009 Real Estate Market Report: Timber Pines, Spring Hill, Florida

Inventory of Homes for sale in Timber Pines, Spring Hill, Florida has decreased once again over the previous month.  There are 66 villas and 73 single family homes available for sale in the Timber Pines Country Club community.  

The majority of homes for sale in the Timber Pines community are offered below $200,000.  There are only four homes in the $200,000 to $300,000 price range and only three homes for sale above $300,000. 

The number of homes sold in October in Timber Pines remained stable with 12 units sold.  Only one of these sales was a foreclosure property, all others were market sales.  However, sales price range was lower this month bringing down the average and median sales prices by 11% and 12% respectively over those from September. 

Number of homes under contract in Timber Pines increased again over last month.  Only one of the homes under contract is a short sale and only one other is a foreclosure property.  Here too, prices are trending downward somewhat, average and median list prices are lower over those from last month. 

Overall however, sales performance in the Timber Pines Country Club community remains stable.  The median price level for Timber Pines home sales again outperforms the median price level in Hernando County as a whole. 

For this month only, the average price level for Hernando County sales in general is just slightly higher thus outperforming the Timber Pines statistics but only because of one high end property in the county sold nearing the one Million dollar mark.  Additionally, the Timber Pines community experiences much lower levels of distressed sales than in Hernando County in general. 

Timber Pines is a 55+ Country Club community offering an active life style with several golf courses, two community pools, Activities Center, Clubhouse, Performing Arts Center, as well as many social clubs and events.  The community is a gated community with an park-like ambience and 24-hour security. 

Timber Pines is located off US 19 in Spring Hill, West Central Florida on the Gulf Coast of Florida, also called the "Nature Coast".  Tampa International Airport is just a 45 min drive via the new Suncoast Parkway.  

Actively Listed Homes for Sale in Timber Pines:  139

Price Range: $57,990 - $399,000

Average: $136,593

Median:  $129,999

Days on Market:  216

Number Properties under Contract:  17

Pending Contracts: 10, Contingencies:  7

Price Range: $60,000 - $209,000

Average:  $127,855

Median:  $129,500

Average Days on Market:  202

Total Transactions Closed: 12

Price Range:  $71,000 - $172,000

Average: $121,400

Median: $122,400

Days on Market:  205

Data derived from Hernando County MLS as of 11/9/09 and believed to be accurate but not guaranteed.