The following are the market sales statistics for Oviedo, Seminole County, Florida for March 2009. Oviedo is made up of the zip codes of 32765 & 32766, which is partly considered Chuluota. 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
37 homes sold during the month of March.
The average sales price is $224,737 with 161 days on the market.
The median sales price is $200,000.
The sales to list price ratio is 95%.
The most expensive home sold for $550K in Valencia Shores and was on the market 637 days
The least expensive home sold for $55,000 in North Chuluota with 72 days on the market.
The average sales price for the same period a year earlier was $301,964 with 152 days on the market and a sales to list price ratio of 95% on 43 sales, a decrease of 14%.
The month to month changes show a decrease in the average sales price of 11% and a decrease in the median sales price of 13%. There was also a decrease in sales volume of 5% with no change in the sales to list price ratio.
Condos, Townhomes & Villas
9 homes sold
The average sales price was $105,122 with 108 days on the market.
The median sales price was $69,000.
The sales to list price ratio is 95%.
The most expensive sold for $179,990 in Clayton Crossing and was new construction.
The least expensive condo sold for $44,625 in Villas at Lakeside after 264 days on the market.
The average sales price a year earlier was $197,887 with 108 days on the market and a sales to list price ratio of 97% on 9 sales.
The month to month changes show a decrease in the average sales price of 4% and a decrease in the median sales price of 40%. Five units sold in Villas at Lakeside with the most expensive selling for $69K. On the other side of the spectrum, the remaining sales were mostly new construction with the least expensive selling for $162K. There was a decrease in sales volume of 18% with a 10% increase in the sales to list price ratio.
For information on Oviedo and Seminole County real estate and Oviedo and Seminole County homes for sale in addition to Oviedo and Seminole County relocation contact Marc Grossman, your Oviedo 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 Off The Leash & Real Estate Cracker
Marc donates 10% of his net proceeds to Hospice of the Comforter.
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