The following are the market sales statistics for Longwood, Seminole County, Florida for February 2009. Longwood is made up of the zip codes of 32779 & 32750. For purposes of this analysis we are only 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
27 homes sold during the month of February.
The average sales price is $334,601 with 157 days on the market.
The median sales price is $247,200.
The sales to list price ratio is 93%.
The most expensive home sold for $1.315M in Alaqua Lakes and was on the market 114 days..
The least expensive home sold for $110,000 in Longdale after 149 days on the market.
The average sales price for the same period a year earlier was $324,011 with 164 days on the market and a sales to list price ratio of 94% on 22 sales, a decrease of 23%.
The month to month changes show an increase in the average sales price of 22% and an increase in the median sales price of 9.3%. There was an increase in sales volume of 80% with a 4% increase in the sales to list price ratio. Except for 2 homes that sold for over $1M, the rest sold for $550K and under.
Condos, Townhomes & Villas
4 homes sold
The average sales price is $95,750 with 165 days on the market.
The median sales price is $61,250.
The sales to list price ratio is 97%.
The more expensive townhome sold for $212,000 in The Springs and was on the market 323 days.
The less expensive sold for $48,500 in Clubside at Sabal Point a Condominium after 21 days on the market.
The average sales price a year earlier was $264,000 with 359 days on the market and a sales to list price ratio of 94% on 2 sales, an increase of 200%.
The month to month changes show a decrease in the average sales price of 41%. There was an increase in sales volume of 200% with a 7% increase in the sales to list price ratio.
For information on Longwood and Seminole County real estate and Longwood and Seminole County homes for sale in addition to Longwood and Seminole County relocation contact Marc Grossman, your Longwood 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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