West Volusia Florida real estate trends

I just looked over the most recent numbers through September has tallied by mfrmls and found these to be interesting:

From Jan-Sept 2005, 62.18% of all transactions were completed with conventional financing. Cash transactions accounted for 15.69%. The data does not say what percent of the conventional financing was insured vs uninsured. Another interesting figure concerns FHA and VA financing. FHA 1.79% and VA 0.72%. This leads me to believe when considering the amount of new Realtors that have entered the Florida real estate market over the last couple of years, very few of them understand these financing options well enough to assist the consumer.

The average sales price in this area dropped to $202,175 in September compared to $210,418 in August.

Inventory for September was 881 units which is the highest number reported since January 2005. As this normal Florida real estate market continues to develop, marketing will be the key to continued success. Those companies who have spent the last few years focusing their marketing efforts only to attract real estate agents or worse yet, have nothing more but a sign in the yard and listing in the mls as their marketing plans, will need to do some serious catch up.

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- Greg Staker Watson Realty Corp. 407-304-0255

West Volusia real estate market

Recently reported numbers for July, 2005 as reported for the West Volusia MLS look like this:

Avg. list price $208,000.
Avg. sales price $204,000.
Avg. DOM 34
July inventory was reported as 606. Compare this to 397 in April and May and now over 1000 for August further indicates a slow down. Is it because prices have reached the limit or has the buyer supply dwindled? We will see.


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West Volusia Florida real estate trends

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- Greg Staker Watson Realty Corp. 407-304-0255