The following are the market sales statistics for Lake Mary, Seminole County, Florida for November 2008. Lake Mary is made up of the zip code 32746. For purposes of this analysis we will be splitting the data according to single-family homes vs, condominiums, townhomes and villas.
A couple of definitions are in order. The median sales price means that 50% of the homes sold for more and 50% of the homes sold for less during a certain period of time – in other words, it’s the midpoint of sale prices. So basically what this means, is that the median sales price is showing market activity in that it’s specifically indicating which price range is more active.
The average sales price, as opposed to the median sales price, is the total volume of sold properties divided by the number of properties sold.
The sales to list price ratio is just that, you’re dividing the average sales price by the average list price and coming up with a percentage that tells you how much of the list price the average homes sold for.
There needs to be a disclaimer here. These stats are only as good as telling us what it being purchased and happening at a certain period in time. Also, it needs to be fully understood that not only is real estate local, but it is hyper-local. What this means is that the trends that we hear about are overall. Let's put it this way, what's happening in one neighborhood, may not be realized in the neighborhood next door.
Additionally, these are only monthly statistics and to get a better scope of what is happening, you need to look at a longer period of time. More high-end homes might be sold in one month as opposed to another. By looking at a longer period, you will get a better overall picture. It is all relative and this has to be understood when utilizing these stats.
Single-Family Homes
19 homes sold during the month of November.
The average sales price is $313,276 with 68 days on the market.
The median sales price is $225,000.
The sales to list price ratio is 95%.
The most expensive home sold for $1,290,700 in Carisbrooke and was new construction.
The least expensive home sold for $140,000 in Lakewood at the Crossings after 94 days on the market.
The average sales price for the same period a year earlier was $381,483 with 134 days on the market and a sales to list price ratio of 95% on 27 sales a decrease of 30%.
The month to month changes show a decrease in the average sales price of 14.4% and a decrease in the median sales price of 21.6%. There was no change in sales volume nor in the sales to list price ratio.
Condos, Townhomes & Villas
12 homes sold
The average sales price was $98,920 with 76 days on the market.
The median sales price was $63,250.
The sales to list price ratio is 91%.
The most expensive townhome sold for $221,142 in Lake Mary Landings and was new construction.
The least expensive sold for $48,250 in Regency Park at Lake Mary Condo after 86 days on the market.
The average sales price a year earlier was $381,032 with 17 days on the market and a sales to list price ratio of 100% on 3 sales, an increase of 400%.
The month to month changes show a decrease in the average sales price of 40% and a decrease in the median sales price of 66%. There was an increase in sales volume of 20% with a 2% decrease in the sales to list price ratio.
8 of this month’s sales were located in Regency Park at Lake Mary Condos. These were conversions a couple of years ago and all sold for under $65K.
For information on Lake Mary and Seminole County real estate and Lake Mary and Seminole County homes for sale in addition to Lake Mary and Seminole County relocation contact Marc Grossman, your Lake Mary and Seminole County Realtor @ 407-463-1034. Additional information is available for Seminole County real estate, Orange County real estate, West Volusia County and South Lake County.
To learn more about Marc and the services he has to offer, visit his website.
Marc Grossman, GRI - http://www.OrlandoHomes-4u.com/ - 407-463-1034
You can read Marc’s other blogs Real Estate Morsels, Real Estate Off The Leash & Real Estate Cracker
Marc donates 10% of his net proceeds to Hospice of the Comforter.
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