TODAY’S FEATURED PROPERTIES 

Can you believe January has come and gone?  The real estate market is still slow in January 2008 for Highlands County.  But, hopefully with the passing of Amendment 1 dealing with property taxes in Florida (more about what this means to you as a buyer or seller in a future blog) and the Fed announcing their 50 basis point reduction in their key rate, buyers will get off the fence and start purchasing.  I have shown many homes this past month with negative results.  The main comment I hear is, "I am waiting and want to see EVERYTHING to make sure I am not paying too much or the market is not going to go lower" - (and when I say EVERYTHING, I mean everything).  Sometimes it is hard to keep a smile on my face!  What the buyer does not realize is, the only way to know the market has bottomed is when it starts to go back up and they missed the really good deal that they were afraid they might be paying too much!

This is a quick snap shot of statistics for Highlands County which includes Avon Park, Sebring, and Lake Placid for January 2008…..while the stats do not look too good, February is looking a little more promising for pending sales.  Realtors are reporting significant inquiries, showing activity, and contracts written.
 
Total Residential Homes for sale (includes single family, villas, condos, mobile homes on owned land) is 2,121.  Out of this only 47 residential homes sold which is only 2% of the current number inventory for sale.  Currently 146 or 6.8% are under contract.  The majority of these will close in this month and some out as far as August of 2008.  As we all know under contract doesn’t mean sold.  Some of these will fall through before closing.  The average sales price for homes sold in January was $157,484.  The good news is more offers are being made and accepted!
 
Single Family Home category currently 1,614 homes listed for sale.  In January, 31 homes closed for less than 2% of the market.  The number of single family homes currently under contract is 132 or 8% of the inventory.  The average sales price for single family homes in January was $177,585.
 
Condominium, townhouse, villa, or duplex category currently has 324 active listings.  Out of this number only 7 sold in January for 2% of the inventory.  Currently there are 13 under contract for 4% of the current inventory.  The average sales price in January was $112,000.
 
Mobile Homes on Owned Land currently has 136 active listings.  Out of this 7 have sold for 5% of the inventory.  Currently 17 are under contract for 12% of the inventory.  Average sales price does not work in this category because prices range from $25,000 in a mobile home park to $450,000 with a small mobile home on 30 acres.
 
So as you can see, the great news is buyers are looking and making offers. Historically, February had proven to be one of our strongest months for winter visitors and second home buyer.  If your home is going to be included in the SOLD or Under Contract category, your home needs to be the best value for the dollar and in the best possible condition.   You want all potential buyers to call you home, "Home" when they step out of the car and walk in the front door.

If you are thinking about selling your home, Call or contact Maureen Cool today.  Let Maureen explain her marketing plan and how your home will be in the sold category.

Statistics taken from the Highlands County MLS as of February 2, 2008.

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.