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!
Home Sweet Home Florida Realty, Inc.
At Home With Diversity (AHWD)
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Titusville, Florida
Cell: 321.544.6808
www.HomeSweetHomeFlorida.com
http://activerain.com/blogs/homesweethomeflorida
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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.