So how did the local market do for 2011? Very well, and here’s just a few highlishgts on the Residential Housing sales in the area:
- A total of 1,665 houses closed from January 1st to December 31, 2011
- The total number of sales was up 14% compared to 2010 when 1,460 houses closed
- 82% of all houses sold were in the price range up to $199,999
- The luxury market ($500k+) also saw a slight uptick as well making up 3% of the area houses sold compared to 2% for 2010
- 3 bedroom homes were the most popular making up 62% of all houses sold, and 30% were 4 or more bedrooms
Financing Type
This is where the statistics get really interesting and often very surprising for people, because 54% of all residential house sales in 2011 in the area were cash. Here’s some highlights for financing:
- Again, 54% of all residential houses sold in 2011 were cash sales compared to the number of cash sales in 2010 which contrbuted 47%
- Conventional loans contributed 31%
- FHA and VA loans made up 10%
2012 Outlook
I am confident the area will see another solid year. For the past couple of years we have seen slight rises in the number of residential house sales. We are currently at much lower inventory levels than the past several years (1038 houses litsed for sale in Flagler County as of 1/11/12) and there is continued activity in the area.
Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 1/11/2012 for Residential Houses. Information may be deemed reliable, but is not guaranteed