Volusia County Property Appraiser Morgan Gilreath feels there's proof the residential real-estate market has finally turned around in Volusia County. He notes statistics from DeBary, near Seminole County, as already rising, and feels that market has already bottomed. In DeLand and Orange City, Gilreath advised, "You'd better go looking soon, because they're turning now."
2006 was the all-time high for Volusia County real estate prices, the top of the boom. But a graph of Volusia County single-family residential sale prices 1996-2009 shows a steady increase in home prices, with prices now "precisely where they would have been without the bubble," Gilreath said.
According to the West Volusia Assn. of Realtors Executive Pam MacConnell, "In March 2009, the inventory of homes for sale in West Volusia was 15.47 months' worth. That's the lowest it's been since April 2007.
"The smaller the inventory, the fewer the homes available for sale, and the better the market for sellers.
"In March 2009, the median sale price of a home in West Volusia was $128,793, down about $5,000 from February, but higher than January's $124,456." MacConnell believes that January figure was the bottom of the market.
Appraiser Gilreath sums up the very positive feelings invading the Volusia County real estate market nowdays, "What a better place to start the recovery than where we should be anyway!" (source: West Volusia Beacon)
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