Port St Lucie, FL MARKET REPORT Week Ending Feb 22, 2012 2012 Market Trends

By
Real Estate Agent with Keller Williams Advantage III Realty in Lake Nona BK3059813
https://activerain.com/droplet/tMC

For a personal tour of this wonderful neighborhood here in Port St Lucie, FL, please call Kevin B Tolbert, PA today, and to see current listings, please CLICK HERE.

And if you need to sell your home in Port St Lucie, FL, please www.SearchforSouthFloridaHome.Com is the only website you need to remember. We specialize in short sales and preventing foreclosure of your home, and if you qualify we can even get you cash back from your lender for relocation assistance at closing.

This has been our market for the first 2 months of 2012. 

The most interesting item is our absorbsion rate was coming down very nicely while the foreclosures were in limbo over the robo signing investigations, however, take note of the number of listings added in January alone since the banks decided to start selling their foreclosures once again.

However, as the number of units has increased, so has the number of sales, thus keeping the absorbsion rate nearly in check.

And 1 HUGE CHANGE is the LIST PRICE to SALEPRICE for February where homes are now selling for an average of 107% over list.  This is an GREAT INDICATION that we are rising in demand, in price, and in volume all indicating once again, a very positive outlook for Port St Lucie in 2012.

And check out this report from Active Rain on predicted trends: http://actvra.in/tJy

 

Posted by

The Florida Tolbert Team, a division of Kevin B Tolbert Real Estate Network

Kevin B Tolbert PA

Keller Williams Advantage III Realty

Keller Williams Land Division

Million Dollar Guild Award Certified Luxury Home Marketing Specialist

Certified International Property Specialist

Certified Distress Property Expert

BOLD Graduate X 13 Listing Specialist

9161 Narcoosee Rd, Suite 107

Orlando, FL 32827

Direct:  772-834-0099

Email:  kevinbtolbert@kw.com

To see all our local listings please goto www.SearchforSouthFloridaHome.Com for South Florida and go to www.searchforcentralfloridahome.com for central Florida.

To see all my blogs, please goto www.kevinbtolbertpa.com

 

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Rainmaker
933,853
Kwee Huset
Kwee Huset Realty - Venice, FL
Venice Florida Homes For Sale

Kevin, Good to see " February where homes are now selling for an average of 107% over list.  " I hope the trend will continue.

Feb 22, 2012 12:17 PM #1
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Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Division Specialist

Me, maybe not so much.  I saw the effects of the bidding wars in the last cycle when our market was artifically inflated by the investor frenzy and then the subsequent crash.

Ebay type real estate just doesn't seem to be a good idea.

Setting realistic prices in the first place seems more businesslike.

Feb 22, 2012 12:34 PM #2
Rainer
138,087
Scott Whitwam, APREP, ABR, SFR, ASD,CDPD ,Designated Broker Mesa AZ
Allison James Estates & Homes - Mesa, AZ

Kevin, I'm with you on the bidding issue. Listings are selling in days with multiple offers and for move in ready homes, normally above asking price. Lots of cash in the market. It is extreemly frustrating when representing financed buyers. It took 13 contracts at or above asking price to get on client a home.

I like to think we do a decent job listing at MV but in our market we have seen a chnange; shrinking inventor and more buyers... our months worth of inventory is moving up like yours but we are under 3 month in the $150K and under and under 5 months overall. 

 

Good post - Thanks

Feb 22, 2012 12:54 PM #3
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Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
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Today was a good example...

Home listed REO for $59,000.  My buyer bid highest and best at $82,000.  It sold for $88,000 or 50% over listing.

Now you and I both know that was not a mistake but jsut a way for the listing agent to collect a list of buyers names and amounts they are willing to spend so they can go to them directly with their next listing and try to double dip.

Feb 22, 2012 12:57 PM #4
Rainmaker
508,962
C. Lloyd McKenzie
Albuquerque, NM
Living Albuquerque

Good Evening Kevin,

Excellent reporting on the Port St Lucie market.  Your comment "Setting realistic prices in the first place seems more businesslike," is spot on.  It is unfortunate that there are agents who game the system for their own self interest. 

 

Feb 22, 2012 01:11 PM #5
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Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
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LLoyd,

YOU ARE SO CORRECT!  We have one REO agent in town that makes a living from offering low ball listings, collecting many buyers and their offers, and then he tells me the next REO he gets that matches this home he offers to all the losers planning to double dip without ever listing the home.

Maybe the banks shoudl know he is not truly marketing their homes to the open market.

Feb 23, 2012 09:41 AM #6
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