Market Trends for November 2008

I decided to change the format of my monthly Market Trends to make it easier for sellers as well as buyers to understand my numbers. I've played around with excell tables, neat up and down arrows in red and green only to realize that it's still not user friendly. So, here it goes:

List prices as well as sale prices for residential homes (this includes condos, townhomes/villas and mobile homes on owned land) have dropped by ca. $20,000 from October 2008:

Average List Price Oct 2008: $158,157
Average List Price Nov 2008: $135,406 = down by $22,752 or 14.39% - and a whopping 19.30% from November last year.

Average Sale Price Oct 2008: $147,044
Average Sale Price Nov 2008: $125,464 = down by $21,580 or 14.68% - and a whopping 19.77% from November last year.

If there are still any buyers out there wondering when is the best time to buy..........IT'S RIGHT NOW!!!

On average it took 159 days to sell a home in Highlands County in November 2008. That is, if the home was priced right. Overpriced homes are still sitting on the market without showings and potential buyers. The majority of homes sold were cash transactions.

The most popular price range for buyers is $150,000 and under. The most popular zip code is 33872, which includes Sun'n'Lakes, Sebring Hills, Sebring Country Estates, Golf Hammock, Sebring Falls, Clearview Terrace and Grand Prix Heights.

Highlands County has experienced the lowest number of sales since 2004, namely 59.

Just in case you would like to see my numbers, they are available to download as pdf file.