Poinciana Florida Real Estate Report for May 2009

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All I can say is WOW!!! Poinciana is down to 648 active listings.  Considering there were almost 1100 in January this is incredible. That’s a decline in inventory of 59%. Yowsers!!! Inventory is flying off the shelves.

Here’s another goodie. There were 132 closings in May. To put that in perspective, last year from January through May, there were 162 sales TOTAL for the 5 month period.

This year for the same 5 month period there have been 559 sales. That’s an increase of 345%

AND…..values are UP!!! Not much. But they are up. 2.5% from April to May of this year.

Now folks, I personally feel this change, while very positive, is temporary. My opinion is that another huge wave of foreclosures will be hitting the market after the summer. I truly hope I’m wrong.

Anyway, lets enjoy a little positive news while we can.

Here’s the lowest priced home in Poinciana Florida today.

652 Floridian

 

3 bedroom 2 bath built in 1989 with 1274 sq ft of living area. It’s a bank owned property priced at $24,900. It came on the market this morning.

 

1006 Blackpool

 

The most expensive home is this 2658 sq ft home built in 2002 with 4 bedrooms, 3 baths ands a pool. This is a Short Sale priced at $350,000!!! Yikes!

 

 

OK that’s it for me. See ya!!!

***All data was pulled from the Mid-Florida Regional Multiple Listing Service and covers the Poinciana Neighborhoods excluding Cypress Woods and Lake Marion. 

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