Fleming Island Market Report Year Over Year September 2010-2011

Fleming Island Market Report Sales Year Over Year September 2010-2011

The Fleming Island area of Jacksonville Florida is experiencing a decrease in inventory this year, and an increase in sales in some categories, as compared to sales from the same period in September 2009-2010. Let's compare Single Family Home Sales and Townhouse Sales for the same time period between September 2009-2010 and September 2010-2011.

Single Family Homes

Sold 9/22/009-9/22/10

286 Sold Single Family Homes
22 Foreclosures - 8% Foreclosures
57 Short Sales - 20% Short Sales

28% total distressed properties sold

What this means to a Buyer or Seller, is that over 25% of the time you were competing or comparing with a distressed property, either short sale or foreclosure. The chance that an appraiser would have to use a distressed sale was 25% of the time.

Townhouses Sold 9/22/09-9/22/10

45 townhouses SOLD
6 Foreclosure
4 Short Sale

22% distressed properties sold

Single Family Homes Sold 9/22/10-9/22/11

364 Single Family Homes
73 Foreclosure
82 Short Sale

43% distressed properties sold

Townhouses Sold 9/22/10-9/22/11

58 Townhouses Sold
5 Foreclosure
7 Short Sale

21% distressed properties sold

What this means to a Buyer or Seller, is that over 43% of the time you are competing or comparing with a distressed property for single family homes, and 21% of the time for townhomes, either short sale or foreclosure. The chance that an appraiser will have to use a distressed sale is 43% for single family homes or 21% for townhomes of the time.

There is a 22% increase of sales in 2011 versus the same time period in 2010. Inventories are down even though the % of distressed properties have increased year over year. Let's watch for a trend to see if prices are truly stabilizing.

If you are thinking of selling or buying on Fleming Island, please give us a call. We are ready to help with up to the minute information about Fleming Island homes for sale.