A few statistics for Saint Johns County, Florida!
St Johns County overall sales for May, 2010 are down from 171 total sales as compared to 177 total sales May, 2009.
Average sales price for May, 2009 was $231,642 with the average list price being $256,304 making the average sale 90.4% of the list price. This represents a drop in the percentage of list price by about 3% in May, 2009 as compared to April of 2009.
Average sale price for May, 2010 was down to $210,043. The average list price in May, 2010 was $227,352 making the average sales price 92.4% of the list price representing only a .3% drop in percentage of list price in May of 2010 as compared to April of 2010.
Average DOM (days on market) for May, 2009 was 141 compared to 176 in May, 2010.
One final note although the average drop in price in May 2010 compared to May of 2009 was 9.4% (just over 7% less than April 2009 compared April 2010), the average sales price drop from January through May, 2010 only reflects an 7.68% drop as compared to January through May, 2009 which means prices dropped 10% less to date compared to January through May of last year.
In summary, number of sales in May, 2010 was down from 177 in 2009 to 171 in 2010 but it took less time to sell a house in May 2010 and the the seller is netting a higher percentage on list price in May 2010 compared to May 2009.
It should be kept in mind that these statistics do not take into account average square footage or other property characteristics. Therefore the difference may be a reflection of a decrease in the overall quality/quantity of the property and not a drop in the overall market.
I welcome your thoughts!