Greater Lake and Sumter County Florida

   Real Estate Statistics for July 2010

There were a total of 284 closed sales in July 2010 compared to 348 closed sales in July 2009. Closed sales in July reflect the purchasing in June. Unfortunately, sales are down over last year at this time, by 64 units. We are hoping this is not a trend, but due to the media coverage of a possible “double dip” recession. The average selling price for July 2010 was $142,818 compared to an average selling price of $146,377 for the same period in 2009. This appears as a bit of good news, as the hope is that prices are “flattening”. The average number of days a house was on the market was 128 days, 7 days less than the same period in 2009. The number of months of inventory has increased from 14.9 months to 16.4 months for the same period as in 2009. The impression is, that more foreclosures have hit the market. There are 4,671 homes available in the Greater Lake and Sumter County area compared to 5,186 last year at this time. The housing market is very “up and down”, as it is trying to stabilize, almost appearing “flat”, and interest rates are still at HISTORIC lows.  It really does show statistically that the market is trying to reach a low, but we will not know till the statistics appear steady for several months in a row.

   Historically, financial experts have said that the time to buy is when the market is on the way down, not when it has "bottomed out", if you wait for the "bottom", you will have missed the opportunity.

Please contact me today for more details on the current market conditions.

 If you can buy now, BUY, BUY, BUY!