Fleming Island Market Report Year Over Year January 2011-2012

Fleming Island Market Report Sales Year Over Year January 2011-2012

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 January 2010-2011. Let's compare Single Family Home Sales and Townhouse Sales for the same time period between January 2010-2011 and January 2011-2012.

Single Family Homes

Sold 1/31/10-1/31/11

314 Sold Single Family Homes
46 Foreclosures
70 Short Sales

37% total distressed properties sold

What this means to a Buyer or Seller, is that over 35% 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 37% of the time.

Townhouses Sold 1/31/10-1/31/11

58 Townhouses SOLD
9 Foreclosure
5 Short Sale

24% distressed properties sold

Single Family Homes Sold 1/31/11-1/31/12

340 Single Family Homes
54 Foreclosure
76 Short Sale

38% distressed properties sold

Townhouses Sold 1/31/11-1/31/12

40 Townhouses Sold
1 Foreclosure
6 Short Sale

18% distressed properties sold

What this means to a Buyer or Seller, is that over 38% of the time you are competing or comparing with a distressed property for single family homes, and 18% of the time for townhomes, either short sale or foreclosure. The chance that an appraiser will have to use a distressed sale is 38% for single family homes or 18% for townhomes of the time. It is interesting to note that this is reducde from 43% for single family homes and 21% for townhomes from the September 2011 report.

There is a 8% increase of single family home sales in 2012 versus the same time period in 2011. Inventories are down and the % of distressed properties sold is about the same for single family homes, but has reduced for distressed properties. Let's watch for a trend to see if prices are truly stabilizing in 2012.

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.