August 2009 Real Estate Market Report: Timber Pines, Spring Hill, FLorida

August 2009 Real Estate Market Report: Timber Pines, Spring Hill, Florida

Timber Pines home sales continued to be strong in August with an 30% increase in closed transactions of single family homes and villas over July. Only two of the homes sold in Timber Pines were corporate owned, foreclosure homes and all others were market sales.

The number of homes under contract in Timber Pines also increased over July to a total of 11.

Overall, the Timber Pines homes sales statistics have remained stable. Although prices have decreased as they have everywhere else, the Timber Pines community is experiencing far fewer distressed sales such as short sales or foreclosures, a big plus for the community and its residents!

Timber Pines is a 55+ Country Club community offering an active life style with several golf courses, two community pools, Activities Center, Clubhouse, Performing Arts Center, as well as many social clubs and events. The community is a gated community with an park-like ambience with 24-hour security.

Timber Pines is located off US 19 in Spring Hill, West Central Florida on the Gulf Coast of Florida, also called the "Nature Coast". Tampa International Airport is just a 45 min drive via the new Suncoast Parkway.

Total Number Properties for Sale: 158

14

Price Range: $69,900 - $399,000

Average: $138,103

Median: $134,900

Average Days on Market: 216

Total Transactions Closed:

Price Range: $50,000 - $270,000

Average: $134,229

Median: $121,150

Days on Market: 202

Of these 9 properties were single family homes, three were villas.

Total Number Properties under Contract: 11

Pending Contracts: 9

Contingencies: 2

Price Range: $89,900 - $269,900

Average: $164,818

Median: $169,000

Average Days on Market: 201

1. Single Family Homes:

Currently Active Listings: 87

Price Range: $70,000 - $399,000

Average: $149,900

Median: $152,418

Days on Market: 194

Under Contract: 8

2. Villas:

Currently Active Listings Villas: 71

Price Range: $69,900 - $177,000

Average: $119,900

Median: $120,562

Days on Market: 243

Under Contract: 3

Data derived from Hernando County MLS as of 9/9/09 and believed to be accurate but not guaranteed.

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