Referencing historical data for the West Volusia Association of Realtors Sales and Inventory data, the Mid-Florida Regional MLS shows some very telling and disappointing stats for our area. To summarize, showing the 5 year history of home prices for the month of JANUARY:
JANUARY 2005 HOMES SOLD: 205, AVG LIST PRICE: $157,234, AVG SOLD PRICE: $153,162
JANUARY 2006 HOMES SOLD: 200, AVG LIST PRICE: $238,023, AVG SOLD PRICE: $229,799
JANUARY 2007 HOMES SOLD: 161, AVG LIST PRICE: $235,761, AVG SOLD PRICE: $225,669
JANUARY 2008 HOMES SOLD: 70, AVG LIST PRICE: $187,828, AVG SOLD PRICE: $177,833
JANUARY 2009 HOMES SOLD: 101, AVG LIST PRICE: $134,438, AVG SOLD PRICE: $124,456
While the bump in sales in January 09 over January 08 is a welcome improvement, the sales are in direct corelation to the amount of foreclosures that have been sold. As indicated by the continued decline in the Average sold price, pressure continues to put pressure on prices as the inventory of foreclosures continues to grow.
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