01/05/2010 Highlands County Real Estate Marketing Conditions
Below is a brief summary of the data included in this e-mail.
Highlands County had 96 residential sales in December. 48 of the sales sold for cash, 31 conventional, 11 FHA, 1
VA, 4 owner and 1 other. With 2009 finished Highlands County had an increase in residential sales on the local MLS
of 26.14% when compared to 2008 sales. The median sales price of residential sales on the local MLS ended up
down 24% in 2009 when compared to 2008 data.
Avon Park has had 15 single family sales in the past month. Inventory has decreased for the second month in a row.
With 2009 finished Avon Park had an increase in residential sales on the local MLS of 23.33% when compared to
2008 sales. The median sales price of residential sales on the local MLS ended up down 11.6% in 2009 when
compared to 2008 data.
Lake Placid has had 27 single family sales in the past month. Inventory has decreased by a large amount when
compared to last month. With 2009 finished Lake Placid had an increase in residential sales on the local MLS of
33.77% when compared to 2008 sales. The median sales price of residential sales on the local MLS ended up down
18.5% in 2009 when compared to 2008 data.
Sebring has had 53 single family sales in the past month. Inventory has decreased by a large amount when
compared to last month. With 2009 finished Sebring had an increase in residential sales on the local MLS of 26%
when compared to 2008 sales. The median sales price of residential sales on the local MLS ended up down 26.6%
in 2009 when compared to 2008 data.
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Below is an analysis of the market supply and absorption rates for the three major cities in Highlands County
effective 01/05/2010. There will also be a breakdown of some of the larger communities in these cities. The
information will give the active listings, pending sales and closed sales for the past year. Only single family property
information was reviewed therefore attached villas/condos/duplexes ect. have not been included with the data
provided below. The absorption rate is figured as follows:
Closed Sales / 12 Months = Sales Per Month
Active listing / Sales Per Month = Monthly Supply
A section will be included in the data that will discuss the total sales per year, median home value and the average
days on the market for sold properties from 2004 - 2009 in Highlands County. Each city also has this data. This data
does include all SF types of properties sold on the local MLS. The data provided is from the local MLS.
Highlands County Residential Home Sales:
Residential Sales 2004 - 2009 on the local MLS.
Year / Number of Single Family Sales / Median Price / Average Days On Market
2004 / 2120 / $104,900 / 94
2005 / 2091 / $152,000 / 90 // An increase in the median value of 44.9% from 2004.
2006 / 1659 / $169,000 / 119 // An increase in the median value of 11.2% from 2005.
2007 / 1077 / $150,000 / 158 // A decrease in the median value of 11.2% from 2006.
2008 / 922 / $125,000 / 152 // A decrease in the median value of 16.7% from 2007.
2009 / 1163 / $95,000 / 148 // A decrease in the median value of 24% from 2008.
The 2009 figures end date is 12/31/2009. The only property type excluded are duplexes
This section will address properties that are listed on the local MLS as short sales, bank owned, corporate owned or
in foreclosure in Highlands County and all three cities. Highlands County market data in this section is including
Lorida and Venus. Only two sections will be provided with bank owned, corporate owned and in foreclosure being
considered the same type of listing. All residential properties are included. As of 01/05/2010 the local MLS has:
Highlands County
Pending Bank Owned: 31
Bank Owned Sales In The Past 12 Months: 271
Active Short Sales: 156
Pending Short Sales: 133
Short Sales Closed In The Past 12 Months: 122
Avon Park:
Pending Bank Owned: 7
Bank Owned Sales In The Past 12 Months: 42
Active Short Sales: 22
Pending Short Sales: 13
Short Sales Closed In The Past 12 Months: 15
Lake Placid:
Pending Bank Owned: 8
Bank Owned Sales In The Past 12 Months: 67
Active Short Sales: 46
Pending Short Sales: 38
Short Sales Closed In The Past 12 Months: 24
Sebring:
Pending Bank Owned: 16
Bank Owned Sales In The Past 12 Months: 161
Active Short Sale: 87
Pending Short Sales: 67
Short Sales Closed In The Past 12 Months: 74
The decline/increase over the last 12 months is figured as follows. This data does include all residential
types of properties (only duplexes excluded) sold on the local MLS:
01/01/2009-06/30/2009: Avon Park: $85,000
07/01/2009-09/30/2009: Avon Park: $74,750
10/01/2009-12/31/2009: Avon Park: $92,500
An increase in the median value of $7,500 or 8.82%
01/01/2009-06/30/2009: Lake Placid: $105,000
07/01/2009-09/30/2009: Lake Placid: $129,750
10/01/2009-12/31/2009: Lake Placid: $121,000
A increase in the median value of $16,000 or 15.23%
01/01/2009-06/30/2009: Sebring: $95,000
07/01/2009-09/30/2009: Sebring: $92,500
10/01/2009-12/31/2009: Sebring: $88,000
A decline in the median value of $7,000 or 7.37%
average days on the market for closed sales in these two cities is also increasing. At the same time values continue
to fall in Sebring the total sales per month is also decreasing while average days on the market has increased.
Avon Park
07/01/2009-09/30/2009 Total Sales: 30 Average Days: 143 Average Sales Per Month: 10
10/01/2009-12/31/2009 Total Sales: 46 Average Days: 187 Average Sales Per Month: 15.3
Lake Placid
07/01/2009-09/30/2009 Total Sales: 80 Average Days: 171 Average Sales Per Month: 26.7
10/01/2009-12/31/2009 Total Sales: 79 Average Days: 185 Average Sales Per Month: 26.3
Sebring
07/01/2009-09/30/2009 Total Sales: 176 Average Days: 147 Average Sales Per Month: 58.7
10/01/2009-12/31/2009 Total Sales: 151 Average Days: 145 Average Sales Per Month: 50.3
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