Monday, October 24, 2011

Ormond By The Sea Florida 3rd Quarter condo sales analysis



Ormond By The Sea Florida 3rd Quarter condo sales analysis
This table shows sales in the July (1st) to September (30th) quarter by year for 10 years to analyze the Ormond By The Sea Florida condo sales and make year by year comparisons.
Year
# Sales
Low $
Sold
High $
Sold
Average
Sold $
Average ask $
Average
Sq. Ft
Price/sq.
Ft. avg $
Average Days
On market
2011
17
85600
495000
180024
203737
1354
133
199
2010
15
65000
530000
151400
165520
1169
130
108
2009
22
59900
595000
186864
214481
1167
160
164
2008
11
110000
720000
238264
262963
1212
197
162
2007
20
125000
825000
292620
318490
1167
251
180
2006
15
191000
410000
268393
281440
1246
215
103
2005
26
149900
840000
325931
338250
1251
261
36
2004
24
170000
599000
276575
248229
1307
212
61
2003
45
92600
320000
186491
193218
1174
159
70
2002
35
55000
339000
144104
148810
1165
124
39
2001
19
51500
252000
129121
136666
1187
109
63

The number of sales this year is higher than the past 2 years and is a good indicator that the market is improving. Whise the number of days condos were on the market this year increased, the average sold price increased significantly. Only 3 of the 17 sales were foreclosures or short sales and many of the lowest priced distressed properties have been liquidated from the inventory. Those properties will sell very quickly as they are put on the market now with the increased market activity and availability of financing.

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