THE Gail Spada TEAM continually analyzes Hernando County market trends to help determine when is the perfect time to buy or sell a home. The data below identifies the comparison between the first three Quarters of 2016 vs 2015. The following data was compiled from reports within the Hernando County Multiple Listing Service and includes Single Family Homes, Condos, Townhomes, Villas, Manufactured and Mobile Homes.
| Hernando County Housing Trends | 2016: Q1 Q2 Q3 | 2015: Q1 Q2 Q3 |
|---|---|---|
| Total Sales Volume | $444,954,908 | $385,941,927 |
| Total Number Sold | 3336 | 3246 |
| Average Days on Market | 82 | 99 |
| List to Sell Ratio | 96% | 95% |
| CASH – No Financing | 1447 | 1612 |
| Conventional Financing | 879 | 823 |
| FHA Financing | 574 | 473 |
| VA Financing | 278 | 206 |
The 2016-2017 forecast is very optimistic as home values continue to appreciate at a gradual steady upward pace since 2012. For January-September this year versus the same timeframe in 2015, our market experienced a 15.3% increase in “Total Sales Volume”. As demand increases, “Average Days on Market” continues to decrease. “List to Sell Ratio”, meaning the percentage of how much the seller got of their asking price, rose to 96%. As prices rise, it is apparent that more people are financing their purchases vs. paying by cash.
| Hernando County Housing Trends | 2016: Q1 Q2 Q3 | 2015: Q1 Q2 Q3 | ||
|---|---|---|---|---|
| Bedroom Count | Avg List Price | Avg Sale Price | Avg List Price | Avg Sale Price |
| 2 Bedrooms | $96,053 | $91,601 | $85,612 | $81,022 |
| 3 Bedrooms | $147,801 | $142,331 | $134,020 | $128,148 |
| 4+ Bedrooms | $210,026 | $202,298 | $183,968 | $176,097 |
Broken down by “Bedroom Count” for the same 2016 vs 2015 comparison, the “Average Sale Prices” for Hernando County homes increased as follows: 2 BR’s ↑ over 13%, 3 BR’s ↑ over 11% and 4+ BR ↑ almost 15%.
We hope you found this post to be helpful, informative and interesting… Watch for our next BLOG POST on November 3rd.
To learn more about Tampa Bay area homes for sale in Spring Hill and Brooksville, located in Hernando County, Florida, explore our state-of-the-art, MLS Map Search Feature. Our MLS Map Search Feature makes it easy for BUYERS to search and find MLS listings and for SELLERS to find out what the competition is doing! And, for even more valuable BUYER and SELLER resources, visit www.GailSellsFloridaHomes.com today!
Until then… it’s all about YOU!