Citrus County Florida, Real Estate Market Report

December 2014   

Citrus County Real Estate

Monthly Indicators

Existing Home Sales Take Off in December while Inventory Continues to Tighten.

Decembers Sales Increased by 36% with 278 units sold compared to November Sales -4.7% with (205 units) sold. While we continue to see a Tightening in Supply to 6.2 Months, down -5% over November’s levels, Citrus County’s Unsold Inventory also continues its tightening in December with 1,495 unsold homes down -2% over last month.  As a result of our restricted Inventory Median Sales Prices have started to rise +9% to $105,000 from $96,500 in November. This is a good sign for price stability and consistency returning to our real estate market

Foreclosures sold for an average discount of 61% below Median Sales Price in December. (59% in November) While Short Sales were discounted 14% (23% in November)

Citrus County Homes continue to stay on the market longer 86 Days in December compared to 79 Days in November, but not as long as last year at this time at 91 Days on the market.

This shows us that the Citrus County Real Estate Market is picking up steam, lifting Values upward. Thou, we have to continue to keep an eye on Foreclosure Sale pressure, a factor that could contribute to drive Citrus County home values down.

We contribute much of the positive news to the recent Fannie Mae and Freddie Mac’s New Low Down payment program that helped improve access to credit for responsible Buyers and has boost our sales. The new program mitigates risk using “strong underwriting” that ensures responsible buyers have access to safe and affordable mortgage credit. We will continue to look toward 2015 to see if this program continues to reap benefits.

Overall, December was a Jump Start month for 2015 in Citrus County, with robust single-family home sales we are cautiously optimistic and encouraged that the decline in Inventory will equate to higher home values in the near future.

This latest housing data has been released by the Realtors Association of Citrus County.

For more Citrus County, Florida home selling insights, give The Cunningham Team at RE/MAX Realty One a call anytime to discuss your own real estate plans!

The Cunningham Team at RE/MAX Realty One “Your Nature Coast Real Estate Experts”

Kevin, Karen and Brogan The Cunningham Team  (352) 527-7842

Click Here To Contact Me

 

About TeamCitrusRE

The Cunningham Team – “Knows Citrus County” Kevin, Karen and Brogan Cunningham “Change is the common Thread that ties ones life to another by deliberate or accidental means” Because life is about change, you need a team you can trust to carefully orchestrate your most important transitions. When it involves Real Estate, The Cunningham Team shares a wealth of experience, articulate business prowess and personalities that exudes confidence in any situation. The Cunningham Team has established an impressive reputation among their peers and clientele as a knowledgeable resource for anything involving real estate in Citrus County. Also Business people interested in expansion, and or development of new business ventures within Citrus County look to our knowledge and insight as reliable resource for current market conditions. While attaining some of the highest honors given to business leaders in Citrus County, Kevin and Karen never forget that their clients are the key to their success. The extra hours, careful listening and honest evaluations of the marketplace, are a part of the consistently high standard of attention you will receive from the Cunningham’s . As a husband to wife Karen, and father to children, Courtney, Brogan, and Katelyn, Kevin maintains a delicate balance between work, play and community service. Alone, or as a family, Kevin enjoys the staples of Florida Nature Coast living; fishing, scalloping, golfing, and diving. Undoubtedly, you will face transitions in your life – when they involve Real Estate and a place to call home, think of Kevin Cunningham….. Professional stability in a climate of change
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