Port St Lucie, FL Vacant Land MARKET TREND Week Ending Feb 29, 2012 2012 Market Trends

By
Real Estate Agent with Keller Williams Realty of Port Saint Lucie BK3059813
http://actvra.in/wYP

For a personal tour of this wonderful neighborhood here in Port St Lucie, FL please call Kevin B Tolbert, PA today, and to see current listings, please CLICK Port St Lucie, FL.

And if you need to sell your home in Port St Lucie, FL, please www.SearchforSouthFloridaHome.Com is the only website you need to remember. We specialize in short sales and preventing foreclosure of your home, and if you qualify we can even get you cash back from your lender for relocation assistance at closing.

This has been our market for the first 2 months of 2012 for vacant lots.

The most interesting item is our absorbsion rate which is crashing in rentals and falling in resale homes very nicely while the vacant lots are rising and sales are slacking off.  This to me says our investors are turning their attention to our resale homes where they see the flipping opportunities and rental opportunities and leaving the low priced land alone for now.

If this trend continues for 2012, it is only logical to expect vacant land prices to fall further as more and more investments dollars are attractive away from this real estate segment and diverted towards home sales.

The List Price to Sale Price graph says it all, sale prices across the board are much lower than listing prices so if sellers want to start seeing sales increase again in this market sector, they will need to lower their asking prices.

That is because our investors are grabbing all of our homes below 100K  rather than vacant land.

If you would like to refer your investors, or are looking to buy, sell, or invest, NOW IS THE TIME to call me today!

And check out this report from Active Rain on predicted trends: http://actvra.in/tJy

Jan-12Feb-12
# Months Inventory 8.76 11.63
# Active Listings 184 186
# Sold Listings 21 16
Absorption Rate 21 16

 

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Ambassador
1,351,887
Jon Zolsky, Daytona Beach, FL
Daytona Condo Realty, 386-405-4408 - Daytona Beach, FL
Selling Daytona paradise for heavenly good prices

Kevin - hmm, in our area the land is getting hotter, and is disappearing fast. Strange, we are not that far from you

Mar 01, 2012 09:55 PM #1
Rainmaker
1,733,674
Captain Wayne Rowlett / Florida Real Estate School
REcampus Fully Accredited Florida ONLINE & Classroom Training in Destin, Pensacola Florida - Panama City Beach, FL
Instructor / Owner of Rowlett Real Estate School

Good Morning Kevin, Great Job on the market trend report.  Keep up the good work!

Mar 02, 2012 03:04 AM #2
Rainmaker
1,531,833
Joan Cox
Metro Brokers - House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Kevin, nice to read market news from across the Country and see how different cities are faring.    Good job!

Mar 02, 2012 01:20 PM #3
Rainmaker
1,143,720
Kevin B. Tolbert PA Team
Keller Williams Realty of Port Saint Lucie - Saint Lucie West, FL
New Home Construction and Luxury Specialist!

Jon,

What can I say... you can buy a lot for $7000 and HOLD IT, or you can buy a house under 70K, do some TLC and flip it. 

In an economy like we just emerged from, don't you think these folks would rather make some quick return?

Mar 02, 2012 06:53 PM #4
Rainmaker
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Kevin B. Tolbert PA Team
Keller Williams Realty of Port Saint Lucie - Saint Lucie West, FL
New Home Construction and Luxury Specialist!

Wayne,

Thanks so much for stopping by and please visit my other blogs often.  Subscriptions are available.

Mar 02, 2012 06:54 PM #5
Rainmaker
1,143,720
Kevin B. Tolbert PA Team
Keller Williams Realty of Port Saint Lucie - Saint Lucie West, FL
New Home Construction and Luxury Specialist!

Joan,

I am absolutely agreeing with you.  I love to hear the good news of how the other markets are doing and improving.

Mar 02, 2012 06:55 PM #6
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Rainmaker
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Kevin B. Tolbert PA Team

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