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Winter 2012 Market Update
As sellers have reduced their prices, we are beginning to see buyers show increased interest. Inquiries about foreclosures and short sales remain strong, but as prices have declined in the past several years, we increasingly see buyers considering any homes that are reasonably priced.
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| Average Home Price | $150,000 - View Graph Trend |
| Average Price Compared to Last Year | Down 5-10% |
| Average Time on Market | 60-90 days |
| Best Selling Price Range | $100,000 - $149,000 |
| Worst Selling Price Range | $300,000 - $349,000 |
| Prices As % of Asking Price | 90-95% |
| Existing Home Prices for the past 90 days are? | No Change |
| Market Trend | Decreasing |
| Buyers’ or Sellers’ Market | More sellers than buyers |
| Buyer Activity for the past 90 days in Melbourne is | Increasing |
| Seller Activity for the past 90 days in Melbourne is? | No Change |
| Multiple Offers? | No |
| Multiple Offers Commentary | Only foreclosures priced very aggressively are apt to see multiple offers. Most buyers in this market are averse to getting involved in a bidding war. They feel it defeats the benefit of the current market conditions |
| What Percentage of the Current Housing Inventory are Foreclosures and/or Short Sales? | 15-20% |
| Is Financing Available For Qualified Buyers? | Yes |
| Housing Inventory | Good supply - Some Prices |
| Inventory Comments | Selections are a bit limited for larger homes in upper price ranges. Short sales and foreclosures are moving fairly well. |
| Greatest Activity | Repeat Buyers |
| Reason to Buy/Sell | Lower prices with good selection and competitive interest rates create a perfect time to buy in Melbourne! |
| Nearest Metro Area | Melbourne |
| Housing Hot Spots | Indian Harbour/Indialantic/Satellite Beaches, Viera/Suntree |
| Average Sold Price | $150,000 - View Graph Trend |
Melbourne Local News
Sluggish housing market in line for a better 2012, according to quarterly survey
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
The figures are still flat-lining, but there appears to be signs of life out there for a housing market that's dying for an upward tick of good news.
The up-and-down ride for real estate the past few years was seen again in the fourth quarter of 2011, according to a survey of HouseHunt real estate agents across the country. There are pockets of good news offset by bad, with home values and prices basically bumping along the bottom of the grid on a perceived never-ending rocky road.
Click here for full article...
Contact Information
Gail Youness
321-720-4130
Request More Information Let me answer your questions!
Ask Me!
Blog Archives
Mortgage Rates
– Feb 13th, 2012 –
---------------------------------
30 yr. fixed rate: 3.89%---------------------------------
15 yr. fixed rate: 3.21%
30 yr. jumbo rate: 4.60%
15 yr. jumbo rate: 3.96%
Home Values
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Request More Information Let me answer your questions! Ask Me!
Gail Youness
CENTURY 21 Spectrum
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 321-720-4130
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