MLS Area 104 - State Road 50 (Cheney Hwy) to Kings Hwy - Nov 4, 2008

109 active listings priced from $66,500 to $749,000 
 *15  short sales
    5 REO's (bank owned)

23 properties are under contract ranging in price from $72,500 to $875,000
*3 short sales are under contract
  3 REO's

64 houses have closed since January 1, 2008
*6 were short sales
  7 were REO's

42 houses have closed in the past 6 months (used for Absorption Rate)
*4 short sales closed in past 6 months
  6 REO's have closed in the past 6 months

The Absorption Rate Formula would indicate the market taking 15.57 months
to absorb the current inventory of homes in MLS Area 104.  This is just
ever so slightly less robust than the last 2 reports, but better than Feb. and May.
This is a great time to buy Titusville FL real estate.  Prices haven't been this low
since 2003, in some cases 2001

Links to previous reports:
Real Estate Market Report/Absorption Rates - Titusville FL (MLS Area 104) - Sept 20, 2008
Real Estate Market Report/Absorption Rates - Titusville FL (MLS Area 104) - July 2008
Real Estate Market Report/Absorption Rates - Titusville FL (MLS Area 104) - May 2008
Real Estate Market Report/Absorption Rates - Titusville FL (MLS Area 104) - Feb. 2008

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

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

 
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2 Comments on Real Estate Market Report/Absorption Rates - Titusville FL (MLS Area 104) - Nov 4, 2008

NOV
04
2008
634,200 Points 68 Featured Posts Outside Blog

Gail, the absorption rate being that high tells sellers to price properties effectively. Hopefully you'll be heading more towards a balanced market as we get past the election and into 2009. Great time to buy.
4:30pm • #1
NOV
05
2008
191,863 Points 5 Featured Posts Outside Blog

Hi Gary - You're so right!!!  It is a fantastic time to buy.  Prices are back to, at least 2003.  Still, I do understand the consumer being cautious.  There are a great many unknowns and variables that are keeping people on the sidelines.  Eventually though, they will have to move their money, hopefully real estate will be high on the priority list.  Thanks for coming by and commenting, market reports can be pretty dry BUT useful :-)
1:57pm • #2

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Gail MacMillan - CRS, e-PRO, GRI ~ Titusville FL Real Estate Brevard County

Titusville, FL

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Home Sweet Home Florida Realty

Address: Titusville, FL, 32780

Office Phone: (321) 544-6808

Cell Phone: (321) 544-6808

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Living in Titusville is like living in the center of a perfect triangle. Close to the BIG CITY without the traffic. The excitement of the NASA SPACE PROGRAM right in your own backyard. The warm, exotic NATURAL BEAUTY which is the FLORIDA everyone wants to own a piece of - Welcome To My Florida World. I can help you find your HOME SWEET HOME in FLORIDA!



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