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Current Market Information
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Greater Lake and Sumter County Florida Real Estate Statistics for January 2010 There were a total of 257 closed sales in January 2010 compared to 339 closed sales in December of 2009. Closed sales in January reflect the purchasing in December. The average selling price for January 2010 was $134,065 compared to an average selling price of $141,983 for the same period in 2009, a percentage drop of approximately 5.9%, that is an improvement over the average for last month from a year ago, when it was a 13.8% drop. The average number of days a house was on the market was 149 days, 17 days more than the same period in 2009. The number of months of inventory has decreased from 30.5 months to 18.5 months for the same period as in 2009. There are 4,746 homes available in the Greater Lake and Sumter County area compared to 5,733 last year at this time. In other words, there are less homes now available, and the rate of absorption is getting faster, and prices are DOWN AGAIN, but are starting to level off, and interest rates are still low. It really does show statistically that the market has reached a low and will stay “flat” for a while. Historically, finacial 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. Currently we are seeing an almost "buying frenzy" at the low end of the market. Homes that are priced in the $90,000 to $110,000 range are seeing multiple offers and many times Agents and their Buyers are having to wai to get in to view the homes. Please contact me today for more details on the current market conditions. If you can buy now, BUY, BUY, BUY! |
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