November Market Update
In this episode I am talking about my local (Central Florida) real estate market. I talk about the days on the market, average sale price, average list price and sales price versus list price ratio.
November Home Sales Download : Home_Sales3896
Here is the current inventory in my local market. Inventory is declining and putting a squeeze on the investors. At the same time the prices have been increasing from $129,000 in August 2014 to $150,000 in October 2014. This means that most of my fix and flip friends and been seeing less inventory to purchase on the MLS and they are paying more for the properties. Also, the fix and flip guys are seeing less returns or margins on the sale. Many of them are turning to new construction (spec) home building. With and abundance of vacant lots and vacant subdivisions the investors are starting to diversify.
Inventory Download: Inventory_Counts6589
Our real estate market is strong and sales are up late in the season and are usual holiday ‘slow-down’ has not started yet. All our numbers point to good things for 2015. This does not mean that things couldn’t change but all actual indications are things will remain on a recovery and uptrend. Don’t believe all the “doom and gloom” you read on some search engine. Look at actual numbers from and real estate professional and make you own opinion
Thanks for listening and let me know your opinion.