MLS Area 103 - Garden St. to S.R. 50 (Cheney Highway) - Titusville FL  Nov 4, 2008

This is the third market report for this area. If your listing is in MLS 103
you will have to be patient and work with your agent to get the pricing right. 
Read on for absorption rates, there's not been much improvement.

In MLS Area 103 Currently there are:

477 active listings priced from $11,000 - $1,100,000
125 listed from $  19,900 - $100,000  
205 listed from $100,001 - $200,000 
  59 listed from $200,001 - $300,000  
  42 listed from $300,001 - $400,000 
  16 listed from $400,001 - $500,000  
  17 listed from $500,001 - $600,000   
    4 listed from $600,001 - $700,000 
    3 listed from $700,001 - $800,000
    4 listed from $800,001 - $900,000
    2 listed at $949,000 and $1,100,000

70 are short sales
31 are REO's (bank owned)

There are 34 properties under contract awaiting closing - breakdown as follows: 
9 properties are pending (contingencies removed)  
listed from   $23,900 - $480,900
25 properties are under contract with contingencies
listed from $9,500 - $499,900

12 short sales
  8 REO's

197 properties have closed since Jan 1, 2008
12 short sales
28 REO's

119 properties have closed since May 4, 2008 (6 months)
7 short sales
22 REO's

Applying the Absorption Rate Formula says it will take the market 24.05 months
to absorb the current inventory of homes in MLS area 103.  Conditions have not
improved much since the last report done 9/20/08 when the absorption rate was
26.37.  This is a very good time to be buying real estate in Titusville FL.  We have
not seen prices like this since 2003, in some cases 2001.  Give me a call!

Links to previous reports:
Real Estate Market Report/Absorption Rates - Titusville FL (MLS Area 103) - Sept 20, 2008
Real Estate Market Report/Absorption Rates - Titusville FL (MLS Area 103) - July 29, 2008

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

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

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