Fleming Island Foreclosures & Short Sales Market Update January 2011 - 2012

Fleming Island Foreclosures and Short Sales Market Update

A buyer who wants to move here asked the average % list to sales price. Since they are coming in February, we updated this report. Here are the results, which we hope will be helpful to our readers.

What we found interesting is the average list to sales price of 96% for foreclosures and 94% for short sales, is actually a tighter ratio than that for all types of sales in the Jacksonville area, which is currently at 91% (still down from 94% a couple of months ago). This was reported to be 89% in the newspaper, but the stats for this area are 91%. the 89% was for the entire Jacksonville area.

Short Sales are selling for an average of 11% more than foreclosures in the Fleming Island market.

What these numbers tell us is that foreclosures and short sales are being priced close to market value, so Buyers should take notice that as a rule, properties are priced competitively and not to waste their time making wild low ball offers doomed for rejection.

Foreclosures

# Active Listings 7

# Sold Listings 55

Average List Price $187,927

Average Sold Price $180,413

Sale/List Price Ratio 96%

Average Approx. Heated Sq. Ft. 2,332

Average List $/Approx. Heated Sq. Ft. $78.69

Average Sold $/Approx. Heated Sq. Ft. $75.76

Average Days On Market 93

Average Continuing Days On Market 138 (all the Days On Market, including when a listing expires and renews with a new list number)

Short Sales

# Active Listings 69

# Sold Listings 82

Average List Price $233,355

Average Sold Price $219,533

Sale/List Price Ratio 94%

Average Approx. Heated Sq. Ft. 2,473

Average List Price $/Approx. Heated Sq. Ft. $90.10

Average Sold $/Approx. Heated Sq. Ft. $85.26

Average DOM 191

Average CDOM 236 (all the Days On Market, including when a listing expires and renews with a new list number)