SoliVita Home Values Continue To Increase For 2014

Posted by admin April - 16 - 2014 - Wednesday

Hi guys. Here’s a market report for Solivita comparing the 1st quarter of 2014 with the 1st quarter of 2013. This will show you the trend for home prices in Solivita.

This data was pulled from the Mid-Florida Regional Multiple Listing Service and is deemed to be reliable. All Data is on Solivita

Period

Number

Of Sales

REOs

And SSs

Average

Price

Price Per

Sq Ft

Current

Inventory

1st Q 2013

66

15(23%)

$164,500

$94.00

na

1st Q 2014

54

10(19%)

$183,000

$ 104.00

118

Change

-19%

-5%

+9%

+10%

So what does this all mean? Well, the first thing, that stuck out like a sore thumb, is that 19% of the resales in Solivita his year were either REOs (bank owned) or short sale (SSs) properties. Compared with  23% for last year. So..distressed property sales in  SoliVita are declining. That’s a very good thing for the SoliVita community.

Now according to the chart  property values in Solivita have increased 9% in the last 12 months. The average sales price in SoliVita right now if $183,000 for a 1,731 sq foot (heated area) home. 9% appreciation is very good and is higher than the Florida average of 5%.

Inventory has been about the same all year. There are currently 126 properties for sale in SoliVita. That’s a little more than 6 months of inventory. It’s a Buyer’s market in SoliVita right now.

Here’s the lowest priced Solivita home for sale today.  A 1253 sq ft Zinfandel Model built in 2005. This SoliVita resale is located in the Venezia neighborhood and is priced at  $109,000. That’s only $87 per sq foot and is a good deal based on recent sales in SoliVita.

Here’s the highest priced home for sale in Solivita today. This 3057 sq foot home has 3 bedrooms, 3.5 baths and an inground swimming pool. It was built in 2012 and is currently priced at $487,900.

My opinion, for the future, is that property values in Solivita should continue to experience appreciation in the 5% to 8% per year range. This is based on the fact that the baby boomers are a huge part of the 55+ Adult Community market right now and are very much attracted to these types of communities.

So there you have it, Broker Bryant’s SoliVita Market Report.  Any questions?

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I am a licensed real estate Broker in the state of Florida. My opinions on real estate have been formed from my experiences and 15 years of working in the business. My opinions are in line with Florida Real Estate laws and the REALTOR(R) Code of Ethics. Your State’s laws may differ. So do your own homework before implementing any of my business practices into your business.