2015 turned out to be another strong year for Palm coast & Flagler County with home sales. The area finished up 6% above 2014 with 2,309 residential house sales at a median price of $173,600 which was up about 12% from last year. A couple of highlights for 2015:
- There were 6 months with over 200 closings compared to 2014 where only 2 months broke the 200 mark.
- There were only 3 months in which the number of sales were below 2014 for the same month.
- Inventory remains at low level with 839 houses currently on the market for Flagler County. The highest being $5,340,000 at a median list price for all of $289,000
- Cash sales dipped to around 42% of all closings. This number was up over 50% in recent years. Financing sales have increased to around 56% of all sales in 2015.
- Foreclosure sales were only 17% of all sales for the area at 403 at a median sales price of $135,000. There are currently only 23 active REO & Government Owned properties listed in Flagler County
- Short sales remained low and accounted for only 3% of all sales for 2015 in the area coming in at 70 with a median sales price of $132,000. Average days on the market for short sale closing dipped to 158 compared to a level that has typically been over 200.
All in all 2015 was a fantastic year for local real estate and the outlook looks positive for 2016 with a cautious eye on the stock market performance and interest rates.
Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 1/18/2016 for Residential Houses. Information may be deemed reliable, but is not guaranteed