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Titusville FL Market Report - MLS Areas 102, 103, 104

This is a quickie report to give an overview of market activity in Titusville
without regard to MLS areas.  If you own a house, condo, or townhouse in
Titusville (MLS areas 102, 103 or 104) this information is for you, without
having to wade through all the numbers.

There are currently 837 active listings in Titusville
There have been 238 closings in the past 6 months

Simply stated it will take 21.10 months to absorb the inventory of properties
for sale at the current levels.

The formula is simple:  # of sales in 6 months divided by 6 = absorption rate
# of listings divided by absorption rate = number of months to absorb.

There are 9,384 single family residences currently listed in Brevard MLS

6,913 single family houses
1,935 condos
   536 townhouses

If you're thinking of listing and want Absorption Rate information, please call or e-mail
and I will be happy to provide the most current numbers.

I can help you find your Home Sweet Home in Florida ~ TODAY!

Gail MacMillan Titusville Fl Real Estate

Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
Certified Residential Specialist (CRS)
e-PRO Internet Certified (e-PRO)
Graduate Realtor Institute (GRI)
Titusville, Florida
Cell: 321.544.6808

HSH Logo - Real Estate Titusville FL

www.HomeSweetHomeFlorida.com  
http://activerain.com/blogs/homesweethomeflorida

 
This post has been included in Florida Real Estate News Brevard County, FL Real Estate News Titusville, FL Real Estate News
Post is included in group: All Things Florida
Post is included in group: Listings By Address
Post is included in group: Local Expert
Post is included in group: Localism Success and Accountability Group
Post is included in group: Market Reports

20 Comments on How long will it take REAL ESTATE IN TITUSVILLE FL to sell - 7/29/08

JUL
30
2008
212,417 Points Outside Blog

Gail, the absorption rate shows it's a great time to buy in my eyes. Rates are great, prices are excellent. There will be a lot of equity built when the markets takes off, the smart ones are jumping at this great chance these days.

7:54am • #1
232,564 Points 5 Featured Posts Outside Blog

Duane, in the big picture it is a terrific time to buy.  In the short term, I'm getting a lot of reticence from buyers afraid that their investment will go down further.  On Florida's Space Coast, with the current space program ending in less than 2 years, there is a real concern for job security.  Unfortunately Florida is one of the states with the highest foreclosures; people are very wary of compromising what security they now have.  Truthfully, I can't blame them.  The need for us to be counselors has never been greater.

9:34am • #2
212,417 Points Outside Blog

Gail, you are correct in most cities the need to be the counselors is growing, but hey you guys have some of the best weather, so who needs the space program, grin.

9:37am • #3
232,564 Points 5 Featured Posts Outside Blog

Duane - if sunshine alone could pay the bills, we would be sitting pretty :-)  NASA, and the Space Alliance companies, is the largest employer in Titusville and it's surrounds, employing nearly 18,000 people.  Right now there's a lot of rumor and speculation about the future, it's a double whammy for this area. 

11:20am • #4
240,697 Points 4 Featured Posts

Gail, What a great way to educate buyers and especially sellers.

11:28am • #5
212,417 Points Outside Blog

Gail, ouch...didn't know they employed that many, yow. I'll be cheering for you, like it's not tough enough.

11:35am • #6
232,564 Points 5 Featured Posts Outside Blog

Robin - do you mean educate because of the Space Program or because of it's effect on the area?

Duane- The population in Titusville is around 45,000, I'll need all the cheering I can get - thanks!  It's a matter of staying positive while this passes, A|R is very helpful and I'm grateful.

11:44am • #7
130,227 Points Outside Blog

Stats are always useful and I am so pleased to see the improved movement! Compared to only a few months ago, things are really picking up!

1:39pm • #8
232,564 Points 5 Featured Posts Outside Blog

Bill & Barbara Jo- Thanks for your enthusiasm :-)  Some market area have picked up more than others.  Sellers are still having a hard time understanding why it takes so long to get their house sold.  The worst is when the price is "perfect" but still no buyers step up to the plate.  I feel for them and I don't mind the handholding; we'll get through it.  Sometimes reality is not kind!

3:21pm • #9
AUG
02
2008
1,037,665 Points 26 Featured Posts Outside Blog Called Shot Master

Gail, Great title for the post. It is agood time to buy because they can select from a large number of homes.

6:39am • #10
232,564 Points 5 Featured Posts Outside Blog

Thanks Gita - the inventory is amazing.  But more important is prices have rolled back to around 2003 so the buys are also amazing.  It won't last forever and the smart money is starting to get back into the market, but there's no sense of urgency either.  Many would-be-buyers want to be more sure of the bottom.  When the tide turns they will come off the fence en masse, can hardly wait :-)

11:41am • #11

How is Bay Towers doing in their sales down there in your area?

1:16pm • #12
232,564 Points 5 Featured Posts Outside Blog

Hi Jeff - Thanks for popping in :-)  Bay Towers has 6 active listings, 5 are short sales.  There are no pending sales.  According to MLS there have been no resale closings at all in Bay Towers.

2:52pm • #13
AUG
03
2008
212,417 Points Outside Blog

Gail, you will have to find new avenues to stand out in the Real estate crowd and gain your numbers through the services you provide, unique services is the key.

8:10am • #14

The absorption rate is a powerful tool in getting sellers to price homes correctly. 

8:11am • #15
232,564 Points 5 Featured Posts Outside Blog

Duane - I'm open to suggestions for unique services!

Diane -  It is a great tool - if only the market would stand still for even a couple of months.  Seems every time I address the pricing issue, it's to say prices are being further pressured lower.  I feel very badly for the sellers, there's no continuity for them to get a hold of.

12:05pm • #16
212,417 Points Outside Blog

Gail, pick me, pick me, hint, hint.

1:58pm • #17
232,564 Points 5 Featured Posts Outside Blog

Duane - too funny - I say that all the time, it usually gets a laugh and a listing!!!

4:04pm • #18
212,417 Points Outside Blog

Gail, LOL, love it... we have to ask for those sales for our businesses one way or another. I pick you!

4:06pm • #19
AUG
10
2008
212,417 Points Outside Blog

Gail, hope your past week went well in the sales department, and hoping for a better week for you ahead.

Duane

9:43am • #20

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