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Palm Coast & Flagler County Finish Strong In 2014, What To Expect For Local Real Estate In 2015
This past December finished up as one of the strongest for real estate home sales in recent years with 194 residential house sale closings.  This was about 15% higher than the December 2013 and the highest number of closings in a December going back to 2009.  For the year, the area saw about a 2% gain in the number of residential home sales coming in at 2,169 for 2014 compared to 2,124 for 2013.

Median home sales price also showed positive gains coming in at about $155,000 for 2014 compared to $145,000 for 2013.  A large part of the steady increases in median home sale prices has been the decline in the contribution of distressed sales for the area.  For example ‘Short Sales’, which once were about 35% of all sales in recent years, were only about 6% in 2014 at around 118.  REO & Government Owned came in higher with 539 closings which was about 25% of all closings.  Some may think the REO & Government Owned number as being concerning, but taking into account that the amount of inventory remains very low (presently at only 68 for sale) and these properties tend to move very quickly (average days on the market ... more

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