The Abacoa real estate market is starting to show some trends that may influence the factors involved in your Abacoa home for sale. Since January, 2007 the median single-family home prices in the Jupiter, Florida 33458 zip code have dropped 23%. The good news for Abacoa homes is that most of the country has seen drops of 30% or more. According to a recent article in Economy.com, most of the country is going to see less than a 5% decrease in homes for sale prices in the next 12 months and 10% of the homes are expected to see their values increase.
If you have a home for sale in Abacoa, there are two trends I would pay close attention to:
- Median Home Prices Are Remaining Low – Inventory in the 33458 zip code are remaining more constant. A projected 25% of current homeowners owe their home lender more than their home is worth, and 18% are choosing to abandon ship and walk away from their homes and mortgages all together. This trend may very well lower area prices another 5% once these distressed properties hit the market. The competition in price right now is between the Abacoa short sale and foreclosures and the homes for sale that are not distressed sales. However, not every buyer wants to deal with a short sale, so make sure your listed property has some sparkle and stands out. I would even recommend getting a home inspection prior to putting your home on the market and/or even including a one year warranty to give the buyer some piece of mind.
- Smaller and Less Expensive Homes are Selling Faster – In the last three years, median home sizes have dropped an average of 200 square feet nationwide. If you have a large home, the most important factor influencing the sale is the price….price your home correctly instead of wasting valuable time and costs. Buyers do not like to see a home that has a lot of price drops, it gives the ‘damaged goods’ impression. In these tough economic times, smaller Abacoa homes mean smaller electric bills, lower insurance costs, and lower property taxes based on a lower sales price. The inventory in Abacoa has gone down and stabilized over the last year, but homes for sale in Abacoa are selling at an above average rate.
- Under Contract – 21
- Sold – 50
- Under Contract – 35
- Sold – 55
- Under Contract – 17
- Sold – 12
Looking at the big picture, 117 successfully closed sales in the fifteen subdivisions of Abacoa in 6 months is well above the figures being seen in other areas of Florida and the United States.
If you are thinking of buying or selling an Abacoa home, call a real estate agent who is familiar with the Abacoa real estate market….call me at 561.309.0154 or email me and I will be happy to help you!
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