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About New Port Richey's Twin Lakes Condominiums

West Pasco County, Florida Active Adult market report

Daniel J. Hunter: Real Estate Agent in New Port Richey, FL

West Pasco County, Florida Active Adult market report

This market update has to do with the entire West Pasco County, Florida Active Adult market area. Houses, villas, mobiles, etc...

That runs from northern county line to southern county line and includes all properties West of US 41 ( roughly the Suncoast pkwy.)

West Pasco 55+ Market Report

Today there are

525 55+ units available for sale ( offered from $19.5k - 389k )
33 55+ units under contract currently (appx. 11/mo = 47 months inventory )
36 55+ units sold in the last 90 days (anemic appx. 12/mo = 44 months inventory )

10 55+ units were withdrawn from the market in the last 90 days
106 55+ units have expired in the last 90 days. ( appx. 33/mo )


upside is we are already in August, which means snow birds start trickling in until they are in full swing by the end of the year.
if you go the rental route, and miss the upcoming snowbird season, you might find yourself in the same boat next year.

Enjoy the quiet of Twin Lakes Condo Community in New Port Richey

Daniel J. Hunter: Real Estate Agent in New Port Richey, FL

Enjoy the quiet of Twin Lakes Condo Community in New Port Richey

So everyone knows Florida got hit hard in the current market correction.  My area, just north of Tampa Bay area, got hit harder than most areas in Florida.  Drive down a street and you will see lots of For Sale signs.   However Twin Lakes has been bucking the trend, at least in volume.  Instead of a lot of foreclosures and distressed property sales, Twin Lakes has only one unit on the market.  It is offered at $36,500, but has only been on the market for 6 days as of today.  

Taking a deeper look at Twin Lakes activity and we find:

 

  1. One condo Sold last year ($37,000)
  2. One condo Expired last year
  3. One condo was Withdrawn last year
This most likely has to do with Twin Lakes being a 55+ community.  Typically that means they are retired, and on a fixed income, and probably smart enough to have gotten a fixed rate on the mortgage or payed cash in full considering how affordable the housing is here compared to most areas.  In another market, we would call this anemic.  But in this market I call it Stability

Enjoy the quiet of Twin Lakes Condo Community in New Port Richey

 

 


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