Hudson, Florida Single Family Residence Market Update
Well comparing this chart to last months we are seeing declines in all categories, with the exception of Houses under Contract. Active Listings are down ~1%, and Sold Listings took a hit of ~37% compared to last month. However, the number of properties under contract have increased month over month by ~7%. While it is a good thing in this market for the number of Active Listings to decline, it was a marginal decline. The increase in Listings under contract is probably due to the long time that Distressed properties take to close. We will look deeper into that in the 2nd chart. What is very disappointing though is the steep decline in Sold listings. Hopefully this is more of a seasonal/holiday affect. However as noted in an earlier blog, the County did not see a drop in sales like this.
Unfortunately this chart says there is ~14 months inventory for sale presently. This should change after the holidays are over, as we have been seeing declines in inventory levels for quite a few months
Hudson Florida is following the trends county wide. While most properties offered for sale are not in distress, alot of people are trying to take advantage of low prices on distressed properties as shown by the reversal from Actives to Under Contract. But as the chart also shows, many more non-distressed properties close, while distressed properties linger in the Under Contract and few are closing each month, compared to how many are under contract. This 2nd chart is concerning as well in that it shows the market has ~15 months inventory of Normal Single Family Residences, but only 10 months inventory of distressed property. The latter number tho is not accurate due to how long distressed properties take to close.
Prices for Hudson that Sold in November are:
Total price range of $16,500 - $229,000
15 houses sold for < $100,000
16 homes sold for between $101,000 - $200,000
4 houses sold for > $200,000
The range for Sold Price Per Square Foot is $22 - $138/SqFt; avg DOM is $71 & median DOM is $69
The Avg Sold Price to List Price ratio is 94%. The High was 113% and the low was 66% with a median at 95%
All information provided is deemed reliable but is not guaranteed and should be independently verified.
Properties subject to prior sale or rental
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All entries on this blog, unless noted otherwise, is the copyrighted content (2009-present) of Daniel J. Hunter, REALTOR®, and is believed to be true and factual, but it is not guaranteed or warranted.
All information should be independently verified.
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