Lake Mary Florida Real Estate – Right Now…
Lake Mary Homes For Sale
Homes & Condos for sale: 380
Properties listed as short sales: 94 or 25%
Bank Owned/REO Properties: 19 or 5%
Distressed Properties make up 30% of the homes for sale in Lake Mary.
Lake Mary Homes Under Contract
Homes & Condos under contract: 170
Properties listed as short sales: 101 or 60%
Bank Owned/REO Properties: 30 or 18%
Distressed Properties make up 78% of the homes under contract.
Lake Mary Home Sales
November Home Sales: 63
Properties listed as short sales: 11 or 18%
Bank Owned/REO Properties: 17 or 27%
55% of the homes sold in Lake Mary in November were not distressed.
Lake Mary Real Estate Market Fact: Currently only 30% of the homes in the inventory available are distressed properties, but 78% of the homes under contract are distressed properties.
What does this mean to you… the Lake Mary homebuyer or homeowner? It means that many of the homes that are traditional sales are being overlooked for distressed properties that are often priced under market. If you are considering selling your home as a “traditional seller” you have to compete with the current pricing of the distressed sales, it can’t be avoided.
Lake Mary Real Estate Market Fact: 55% of the homes sold in November were “traditional sales”.
What does this mean to you… the Lake Mary homeowner or homebuyer? It means that even though distressed properties make up 78% of the homes that have contracts written on them, those proerties are not closing in a timely manner. If you are considering purchasing a distressed property, you need to have a flexible timetable to close. If you are selling your home and it is not a distressed sale, you need to promote the fact that your home is ready to buy today.
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