North Port FL, REO Market Report for the Last 5 Years – December 2013
How is the REO real estate market for single family homes in North Port FL? Check out the December 2013 report provided by your local REALTOR® Kwee Huset of Kwee Huset Realty.
REO Marker Report December 2013
Currently, a total of 113 REO single family homes are in the market and 51 were listed for sale in December 2013. Prices range from $27,900 to $329,000, with a 2 bedroom 1 bath, 616 square feet handyman special to a 2949 square feet house built in 2002, having 3 bedrooms 2 ½ baths 2 car garage and a pool located on 4.06 acres of land.
15 properties went under contract. Priced ranged from $40,000 to $300,000.
39 properties were sold with prices from $34,000 to $175,000. Days on market averaged 65 with 97% of sold price to list price ratio.
The graph below is the comparison on sold price for the last 5 years REO market report for December 2009 to 2013
According to the graph, all the prices have been bouncing around except the median price shows the improvement began in 2010. It increased 17.39% in 2011. Comparing December 2011 to December 2012 the media price increased 39.5% from $81,000 to $113,000. Comparing 2012 with 2013 it improved another 4.86%.
The graph below is the comparison on sold units for the last 5 years REO market report for December 2009 to 2013
According to the graph above, in 2010 a total of 63 REO properties were sold. The reason was property prices were lower as shown in the sold price graph above. When the price increased in 2011 the number of units sold dropped from 63 to 25. Gradually it improved again in 2013.
The price depends on the location, home size, amenities & condition of the properties (handyman, move in condition, kind of floor, updated kitchen/bathroom, air-conditioner, car port or garage parking, etc.)
Based on information from the My Florida Regional Multiple Listing Service, Inc. for the period as mentioned above as of January 29, 2014. This information may or may not include all listed expired, withdrawn, pending or sold properties of one or more members of the My Florida Regional Multiple Listing Service.
MFRMLS, Inc. Information deemed reliable but not guaranteed. Parties are advised to verify.
Looking to buy or sell in the City of North Port? Dial 941-716-3090 for email me.