Hudson, Florida Annual Real Estate Market Report 2009 vs 2008
This Market Report includes ALL Residential Properties that Sold in 2008 & 2009 including:
Single Family Detached Homes, Townhomes, Condo's & Mobile/Manufactured Homes
Things looked much better in my West Pasco 2009 Annual Market Report than it does for Hudson. Which is due mostly to the fact that Hudson is the farthest point in the county from the Jobs, specifically Tampa/Clearwater/St. Pete. As a result the Market is under more duress the farther you are from the hub of the Metropolitan Statistical Area and the jobs
What you should notice right off the bat, is that Sales are prtty much FLAT. 608 in 2008 vs 611 in 2009 which is a net 0.5% increase in Solds. In other words the difference in Volume of Solds is negligible year over year. However, what is good, and not shown in the Sold numbers is that The Inventory Levels have dropped dramatically.
As is to be expected in this market in the State of Florida
The Average List Price Dropped from $140k in 2008 to $121k in 2009 (a 14% Decline)
The Average Sold Price Dropped from $130k in 2008 to $111k in 2009 (a 15% Decline)
The Average List Price per Square Foot (LP/SqFt) dropped from $91 in 2008 to $77 in 2009 (a 15% Decline)
The Average Sold Price per Square Foot (SP/SqFt) went from $84 in 2008 to $71 in 2009 (a 15% Decline
On Average houses are actually staying on the market longer in 2009 than they did in 2008. (a 22% Increase)
Surprisingly the Average Sold Price to List Price ratio (SP/LP) remains at 92%.
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