The market value for homes in Poinciana continues to decline but total sales increased for the second month in a row. Although sales have increased, market values continue to fall, likely due to excessive inventory.
The number of homes sold increased from April to May and remained above 40 in June. In July 2008, 72,465 people called Poinciana home in an area of 20,303 homes. The least expensive of these sells today for $41 per square foot. The least expensive single family home in Poinciana has an asking price of $50,000.
Absorption rate for Osceola County stood at 4.04%, which reflects a steady increase from a low of 2.00% in January 2008, but inventory remained excessively high at over 1,100 homes on the market for sale.
A total of 208 homes have been sold in Poinciana so far in 2008 reflecting average sales of slightly over one per day. Solivita and Crescent Lakes maintain higher average sales and values than Poinciana-proper.
Numbers in this report reflect an area referred to as Poinciana-proper. These numbers do not include communities within the Poinciana area, such as Solivita, Crescent Lakes, Cypress Woods...read more...
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