Today is the final 30 day update for 2010 and we will do the real estate update for Highland Lakes, Palm Harbor, a very desirable 55+ community.  Highland Lakes has access to Lake Tarpon, has three par 3 golf courses, a clubhouse, fitness center and lots of activities.  Highland Lakes is the largest 55+ community in Palm Harbor.

The real estate activity in the last 30 days, for single family homes and villas shows there are 70 properties for sale, ranging in price from $44,900 up to $450,000 - which is a lakefront home on Lake Tarpon.  The average days on market for the homes for sale is 172.  The lakefront home, listed for $450,000 has 1,037 days on market.

In the last 30 days, six homes have come on the market in Highland Lakes, Palm Harbor: 2 villas and 4 single family homes.

There are 15 homes under contract in Highland Lakes with list prices ranging from $59,900 to $185,000.  The average days on market is a little over 100 days.

In the last 30 days, 10 homes have sold in Highland Lakes.  The listed prices ranged from $72,000 to $799,000 and the average days on market was 114.  The home listed for $799,000 was a bank owned property and sold in 0 days for only $85,000 so this is one that is a statistical outlier.

The average sales price for these 10 homes in Highland Lakes was $97,940, average days on market was 114.  The sold prices ranged from $69,000 to $162,500 and the days on market ranged from 28 to 479.

The lower the number of days on market, the closer the price is to the market value.  When a house comes on the market at a price higher than the market is willing to pay, it sits on the market getting little showing activity, as a rule, until the price is dropped to a value the real estate market (buyers) is willing to accept.  In the current market, the longer the house sits on the market, the lower the final sale price is likely to be because the values are continuing to decline.  Thus, it is better to price your house correctly as the outset in order to get the best possible price instead of hoping to get more than the market is willing to pay.  Time is not a seller's friend in today's real estate market.

If you would like more information about a specific neighborhood, whether in Palm Harbor or elsewhere, visit Sun Bay Associates' Market Snapshot for a real time look at the real estate market in that neighborhood.

If you would like to see a broader picture of real estate in the Tampa Bay area, visit Sun Bay Associates' FREE home search and design your own real estate search.

Happy New Year!!