The common question today is how is ‘the market’ now that the tax credit for new contracts has expired? Remember to qualify for the tax credit the buyer must have signed the contract by April 30, 2010 and closed by June 10, 2010 with the closing date date extended now to accomodate short sales. Since most sales will close within 30 days, May was a real focus as an indicator of the impact of the tax credit and June to a point. So how is the market? Still holding strong in the area. Let’s take a look at the Palm Coast Residential Home statistics:
June 2010 June 2009 %Difference
# of Closings 135 131 +3%
Avg. Sold Price $155,685 $164,479 -6%
Median Sold Price $135,000 $138,000 -2%
So we are still seeing positive gains in the number of sales which is a continued trend over the last two years and that’s always a great sign. The average and median prices, again, are seeing slight dips but the single digit drops are a very postive sign compared to the double digit drops from the last few years and indicate stabilization.
Pending sales have been getting a great deal of news as well. Palm Coast currently has 130 pending home sales and this is about average for this time of year. The average list price for these pending sales is $$185,803 and the median list price is $140,000. Again, positive numbers for the area.
In terms of active homes for sale in Palm Coast, there are 1034 homes for sale with an average list price of $223,803 and a meidan list price of $169,000. Short Sale comprise 36% of the homes for sale and foreclosures comprise 3%. This has been the average for some time now and not much change in the area of actives.
So all in all we are seeing the market in the area stabilizing and positive response to all that Palm Coast has to offer. It’s been a great year in the area and we’re only half way through!
Remember, you can easily search for properties in the Palm Coast area at www.PalmCoastHomeShow.com and even start your search in simple ways such as:
Create a PalmCoastHomeShow.com account and manage your property search with powerful features such as:
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Or call me today to get started on the road to your new dream home in Palm Coast, FL.
Kathleen West, Realtor
Trademark Realty Group of Palm Coast