Lake Mary, Florida Home Sales Report: June 2010
By Debbie Summers, Lake Mary REALTOR on June 10th, 2010Lake Mary Homes For Sale
Homes & Condos for sale: 417
Properties listed as short sales: 109 or 26%
Bank Owned/REO Properties: 42 or 10%
The inventory of homes available for sale in Lake Mary continues to stabilize with little to no change in the quantity or the percentage of distressed properties in the marketplace. As we enter the “Summer Buying Season” we will be watching to see if the demand increases and waiting to see if more homeowners who are not in distress consider selling their current property and move up or downsize. We’ll be watching…
Lake Mary Homes Under Contract
Homes & Condos under contract: 209
Short Sales: 112 or 54%
Bank Owned/REO: 46 or 22%
Distressed Properties make up 76% of the homes under contract.
Lake Mary Home Sales
May Home Sales: 65
Short Sales: 8 or 13%
Bank Owned/REO: 31 or 48%
Home Sales in Lake Mary, Florida
Lake Mary Real Estate Market Fact: 61% of the homes sold in Lake Mary, Florida during the month of May were distressed properties.
What May’s Lake Mary Real Estate Statistics mean to homebuyers… There continues to be a large percentage of foreclosures and short sales entering the marketplace and understanding the specific challenges to purchasing those types of properties in advance, will save you heartbreak and frustration in the long run. Some of the most knowledgeable REALTORS who are successfully completing short sales are Certified Distressed Property Experts or CDPE’s, so if you are thinking about buying a short sale, make sure your agent is a CDPE.
Real Estate Market Trends and The Lake Mary Homeowner… Most homeowners are surprised to find out that their home’s market value has possibly returned to what it was in 2003/2004 or “pre-boom” pricing. The impact of short sales and foreclosures has had on the market is quite dramatic and is on a town by town and neighborhood by neighborhood basis. For more information about the value of your home, please visit our website for a free home valuation.
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