Lake Mary Real Estate Update November 2011

Lake Mary Home Sales November 2011

Photo of the marquee for Lake Mary VillageOctober ended with 33 home sales in Lake Mary, the seasonal downturn is expected as the Holidays are fast approaching.  We often see an increase just before the end of the year with families that are trying to purchase before the Homestead Exemption Deadline. 

Short Sales are a integral component of our current real estate market in Seminole County and distressed properties make up three quarters of the homes under contract. The debt forgiveness act continues to give homeowners relief through 2012. A Lake Mary Short Sale is a viable alternative to foreclosure and provides homeowner to homeowner transfer where the property and community benefit from the avoidance of a foreclosure and an abandoned home.

What’s Selling in Lake Mary?

Homes for sale in Lake Mary:   232 Homes

Short Sales:  49

Bank Owned / Foreclosure Homes:  11

Distressed Property Inventory =  25%

 

Homes Under Contract in Lake Mary, Florida:   121 Homes

Short Sales:  87

Bank Owned  / Foreclosure Homes:  5

Distressed Properties under contract = 76%

 

Homes Sold in Lake Mary, Florida:    33 Homes

Short Sales:  13

Bank Owned / Foreclosure Homes:  2

Distressed Properties under contract = 46%

 

Lake Mary Home Sales Prices:

Lake Mary homes sold under $100,000:  3 Home Sales

Lake Mary homes sold at $100,000 – $200,000:  11 Home Sales

Lake Mary homes sold at $201,000 – $300,000:   8 Home Sales

Lake Mary homes sold at  $301,000 – $400,000:   7 Home Sales

Lake Mary homes sold at $400,000 – $500,000:   2 Home Sales

Lake Mary homes sold at $501,000 – $750,000:  2 Home Sales

Lake Mary homes sold at $751,000 – $1,000,000:  No Home Sales

Lake Mary homes sold above $1,000,000: No Home Sales

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*Statistics for Homes include single family and townhomes. All housing sales data is recorded in My Florida Regional MLS through cooperative broker sales as of 11/4/2011.

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