There should be no doubt at this point that the Palm Coast & Flagler County is not only recovering, but is more in the recovered phase. Although this year started off a little light compared to the first two month of 2014, the area is up 10% with 1,144 residential house sales through June compared to the same period for 2014. June was another strong month with 221 residential house closings which was up 18% compared to June 2014. Median sales price in June was also up slightly compared to June of last year. Buyers who are serious about finding a home in the area should not waste any time as the pace at which homes are selling is around 87 days on the market for all of Flagler County and around 78 for Palm Coast.
The number of existing homes for sale (aka “inventory”) in the area also remains low with 902 for all of Flagler County and 631 for Palm Coast. With short sales and foreclosures making up a very small percentage of the market today, buyers are finding it to be a very competitive market. With cash sales dropping to around 44% and buyers taking advantage of great interest rates and more credit opening up, sellers should not overlook pricing right the first time in these conditions. A property priced too high can risk not appraising within that price range which often times leads to a lost deal and the property now going back on the market with a much longer than necessary number of days on the market.
For more detailed more reports of the area, click here to visit my Market Reports page.
*Disclaimer: Information based upon the Flagler County Association of Realtors MLS as of 7/11/2015 for Residential Houses. Information may be deemed reliable, but is not guaranteed