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Baywood Village Real, Palm Harbor

by Doug & Gwen Campbell at Sun Bay Associates

Baywood Village in Palm Harbor, Florida, is a waterfront community that has a good deal of real estate sales activity.  As of today, October 26, 2010, there are 19 active listings, 1 active with contract listing, 3 pending sales and 5 properties have sold in the last 90 days.

Of the 19 active listings in Baywood Village, the prices range from $117,900 with no waterfront or access and no pool, to $935,000 with waterfront, direct Gulf access and wonderful waterview. 

The active with contract and the pending sales range from $125,000 to $399,000 and except for the listing at $125,000, the others have waterfront, Gulf access and excellent water views.

Of the houses that sold in the last 90 days, one on 312 Crosswinds Drive was listed for $239,000 and sold for $230,000 with no waterfront but with a pool and was 115 days on market.  The other four houses all have waterfront, Gulf access and water views.  368 Westwinds Drive was listed at $287,000 and sold for $250,000 after 104 days on market.  366 Westwinds was listed at $354,000 and sold for $300,000 after only 2 days on market.  340 Westwinds Drive was listed at $849,000 and sold for $739,000 after 137 days on market and 309 Crosswinds Drive was listed at $849,000 and sold for $860,000 after only 66 days on market.

A key element to the correct pricing is days on market. The range for days on market for the successfully sold houses is from 2 days to 137, with the 137 days on market home selling for $739,000.  For the active listings, or those that have not yet sold, the days on market ranges from 33 to 679.  For the houses above 200 days on market it is very safe to say that the asking price is being rejected by the marketplace.

At the current rate of sales, there is less than four months inventory of homes for sale in Baywood Village, Palm Harbor.

To learn more about the values of real estate in your neighborhood, go to Sun Bay Associates website home page and select the Market Snapshot button.  If you would like to simply search for houses in the area, click here on our FREE home search  and you can design your own real estate search.

Has the Dunedin, FL Real Estate Market Stabilized

by Doug & Gwen Campbell at Sun Bay Associates

Has the Dunedin, FL real estate market stabilized?  It is beginning to look like the price freefall is over or at the very least slowed.  In the past 90 days, in 30 day increments, we review the Dunedin, FL real estate market and the following is what we see.

From January 26 thru February 26, 2010, there were 191 single family houses actively listed for sale.  In that period, there were 56 houses listed as Active with Contract and 38 houses listed as Pending Sales.  The critical number is that 32 houses in Dunedin sold in that period, with an average sales price of $183,788 and the average Days on Market, or DOM, of 80.  The list price to sales price ratio is 0.93, or average list price of $201,426 to average sale price of $183,788.

From February 26 thru March 26, 2010, the number of active listings was 191, 56 houses were listed as Active with Contract and 38 houses listed as Pending Sales.  In this time frame, 21 single family houses sold, at an average sales price of $171,748 and an average DOM of 44.  The list price to sales price ratio was 0.91, or an average list price of $184,675 to average sale price of $171,748.

From March 27 thru April 26, 2010, the number of active listings was 191, 56 houses were listed as Active with Contract and 38 houses listed as Pending Sales.  The stability of the active listings, under contract and pending sales is remarkable.  The number of single family homes in Dunedin that sold in this period was 28, at an average sales price of $178,984 and DOM of 66.  The list price to sales price ratio was 0.95, with an average list price of $188,624 to an average sales price of $178,984.

You can see that the number of listings in Dunedin has apparently stabilized, with 191 active listings and an average of 27 houses selling in any 30 day period.  This means that for every one house sold, 7 remain on the market.  Thus, if you, the seller, want to sell your home, you must be in the top 14% of houses on the market or you will most likely not get an offer.  The good news is that the prices for this 90 day window did not plummet for Dunedin, FL.  The number of houses on the market in Dunedin is holding steady, and the number being sold is also relatively steady.  This indicates that the Dunedin real estate market may be stabilizing.  If this is the case, and we will know more in the next 90 days, it is possible that prices will remain at least steady (read stabilized) for the next several months before there is any indication of an upward tic. 

If you are a buyer, this is clearly the best time to buy.  Prices are not going to get much lower, and with the impending increase in interest rates, the buyer will be getting less house for the same monthly payment

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Photo of Gwen and  Doug Campbell - Sun Bay Realty Group Real Estate
Gwen and Doug Campbell - Sun Bay Realty Group
at Keller Williams Realty
30522 US Hwy 19N, Suite 107 S
Palm Harbor FL 34684
Doug's Cell 727-741-4189
Gwen's Cell 727-741-7260
Fax: 888-447-7908