Curious about the median values of home sales, I did some data mining on our home sales in Cape Coral. I used March as the month to compare. Starting in 2002 I measured how many SINGLE FAMILY homes sold, the median price, the days on market & the average LP/SP. Since I'm not a chart expert, here's the data:
Yours in Success,
Susan Milner
Florida Future Realty, Inc
http://www.YouTube.com/FloridaFuture
(239) 542-8521
Susan@SusanMilner.com
We also handle Cape Coral Short Sales......
copyright 2008-2012 Susan Milner of Florida Future Realty Inc
Kind of surprised to see sp/lp dropping to 93% for 08 YTD. Thought sellers were starting to see the light and price accordingly to market expectations or are there other factors, i.e. REO sales that skew the number?
Numbers are getting closer to a bottom but in my experience with RE boom/bust times of the 70's and 80's, the bottom tends to over correct.
Todd, that's a median SP/LP so it is showing those that were priced pretty correctly & those that were very overpriced as well. I'm almost feeling like we are below the bottom here with some of these deals. I saw a CBS home in Cape Coral yesterday for $69,900 - bank owned property - could use a little work but still. WOW.
We are also seeing multiple offers on homes priced right as well so that shows something is going on with this 'bottom'.