Baywood Village in Palm Harbor,FL is a waterfront community on the Gulf of Mexico with a canal system that connects many homes in the neighborhood to the Gulf.  There is a wide range of home prices in Baywood Village, since the neighborhood was first started in the early 1960s.  The first homes in Baywood Village were built in the early 1960s and various phases were added over the years, with Baywood 5 being the final phase built in the late 1980s.    The phases of construction account for much of the range of home prices.  The real estate sales activity for the first two months of 2010 are below.

In the $125,000 to $175,000 price range, there are 4 houses listed and 3 sold.  The average Days on Market for the active listings is 226, the average Days on Market (DOM) for those that sold is 65.  For the three houses that sold, the average sales price was 91% of the average list price.

In the $175,000 to $300,000 price range, there are 5 houses listed, 2 under contract and 1 sold.  The average DOM for the active listings is 89 and for the one that sold is 379 and it sold for $$145,000.

In the $300,000 to $500,000 price range, there are 6 houses listed, 1 under contract and 0 sold.  The average DOM for the listed homes is 218.

In the $500,000 and above price range, there are 6 active listings, 1 under contract and 1 sold.  The average DOM for the listed homes is 165 and the 1 that sold was on the market for 147 days and was listed at $725,000 and sold for $650,000.

Generally, the longer a home is listed, it means that the list price is too high.  In some cases, especially in a short sale situation, a house may be listed for a long time because of the lengthy bank approval time for short sales. 

Naturally, home prices are down from the peak of 2005, in Baywood Village as just about everywhere else.  When houses are priced properly, sales move much quicker because the marketplace is accepting the prices.  The Days on Market or DOM is a very good indicator for homeowners to use to understand that a house that has no or very little activity in the first 30 days, or is on the market for more than 90 days, needs to have the price adjusted.  This is true in almost all cases, especially in today's market where price is the driver since there is still a lot of inventory.