TONY VIGGIANO HOMOSASSA Real Estate
YOU LIST IT WE SELL IT    
 

 

Real Estate Outlook – Citrus County, FL

 

 

 

ARE THINGS LOOKING UP                                      MARCH 2011  

Last year at this time we had the "First Time Homebuyers Stimulus Program" in place. That program was successful and brought significant increases to our business in early 2010. We don't have the Stimulus Program in place anymore and yet our residential sales are up by nearly 14% over last year. That is a very positive sign that buyers are moving back into the market. We keep hearing "prices are just too good to pass up" so buyers feel this advantage outweighs any risk. 42% of the residential sales this year have been "distressed properties". That's another indicator our buyers are seeking out investment grade housing. Inventory has sipped to a 3 year low with nearly 2700 active residential listings. We're cautious that this might be temporary but are very encouraged to see this number going down.

The economy has forced change upon us. It's an evolution of sorts. The word "sale" has never attracted so much attention. Who knew what the acronym BOGO meant just a year or two ago? Everyone wants their dollar to stretch as far as possible in today's market. And this obviously includes housing. Many sellers have yet to accept the fact this is the driving force behind the value of their home. Not what they paid for it 4 years ago or how much they need in order to buy another home somewhere else. If you're selling in today's market, then a home has to be priced for today's market. Once this realization sinks in, you can expect a successful transaction in your near future.

Banks are slowly gearing up for more short sales this year. We're averagng 13 per month right now but there are hundreds in the pipeline that need to be processed. While not a perfect scenario for the banks, short sales are more beneficial to the lenders and borrowers in the long run. We look forward to the promises of a "pre-approval" process for all homeowners who need help in selling their homes.

 

 

WELCOME TO FALL                 

 

 

 

 


Single family

(Residential, Mobiles & Condo)

Year to Date 2010

Year to Date 2009

Hot Stats

Totals

Available Inventory

   789 (New)

 923 (New)

Current Inventory 

2674 Listings

Under Contract

538

491

Month Supply

15.5 Months

Sold

 345

303

List/Sale Ratio

92%

Avg. Days on Market

 180

143

Total Sales Volume (All)

$73.5 Million

Average Sale Price

  $97,077

    $112,801

Distressed Sales

145

 

 

 

 

This report is developed monthly and is based on information from The Realtors Association of Citrus County MLS for the period stated above. Area: All of Citrus County and some limited adjacent communities. To receive this report via email or to request an interview, email your RE/MAX Realty One agent.

 

 

 

 

 

 


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