Homes for Sale in West Pasco FL Active Adult - Market Report August 2010
First thing I want to say is the market is not as bad as the pie chart below depicts. Snowbird season has yet to begin. I think when that happens the inventory levels will dramatically drop with an increase in sales. As of this report there are over 21 months inventory. In the coming weeks the Snowbirds will start to return and closings should follow a month or so after that. With a good interest rate a 55+ Condo can go for as litttle as ~$100/month
Below you will notice a marked difference between Active Adult communities and the rest of the county, there are few Distressed properties. That in part is because they sold their home back up north, and paid cash for their residence.
No mortgage = No way to get distressed
in all 3 groups (Actives, Under Contract & Sold) distressed properties make up only ~10% of the market
We have Active Adult units listing & selling for as little as ~$25 per square foot
As you can see below over 500 listings are available for between $19,000 and $379,900 ($25-160/spft.) How do you know you do not have your property priced correctly? When it has been on the market for longer than the average for solds. Solds in 55+ communities is higher than the rest of the market at 125 Days on Market (DOM.) So if your unit is on for longer than that, like oh say for 1,395 days, you might want to reconsider the pricing.
Also worth noting below is the number of units under contract is 10% higher than the number of homes that sold in August 2010
Somebody actually bought a home in an Active Adult community for only $22,000. Do you really think prices are going to get any significantly lower? I think if you have the means, this is the Snowbird season to finally pick your retirement unit that best suits your needs
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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