Palm Harbor Florida - 2011 Housing Market Review
There were 780 single family homes sold in Palm Harbor Florida during 2011. A summary of those sales is as follows:
List: $1,700,000 Sold: $1,385,000 (most expensive)
List: $ 29,900 Sold: $ 29,900 (least expensive)
Sale Price/Sq Ft:
High: $333.24
Low: $ 20.36
Average: $103.94
Average Days on Market: 91
There were 522 sales in the group townhomes, villas and condos. This breaks down as follows:
List: $369,900 Sold: $373,350 (most expensive)
List: $ 9,000 Sold: $ 9,000 (least expensive)
Sale Price/Sq Ft:
High: $ 186.68
Low: $ 8.88
Average: $ 67.25
Average Days on Market: 149
Comparing residential sales in Palm Harbor during 2011 to the sales that took place in 2010 we find:
2010 residential sales: 1192
2011 residential sales: 1302
2010 average sold price: $150,001
2011 average sold price: $170.210
2010 average days on market: 116
2011 average days on market: 120
Looking at the above information we see increased sales during 2011 along with higher sold prices. That is great news for the economy in general and verifies the information that the Florida Association of Realtors has been reporting. According to FAR, the Florida residential market is showing a slow but steady recovery.
What does this mean for the residential buyer? NOW is the time to take advantage of some fantastic prices as the market here in our state is starting a slow but steady recovery. Prices will certainly not shoot up as they did years ago but they are indeed increasing. And with mortgage rates at the lowest they have been in over 50 years, it is indeed the time to purchase!
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