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Here's the current absorption rate in Englewood right now:
# of listings in Englewood= 499 active listings
# of listings sold from May 20-June 20: 56
# of listings sold from Apr 20-May 20: 47
# of listings sold from Mar 20-Apr 20: 45
# of listings sold from Feb 20-Mar 20: 52
# of listings sold from Jan 20-Feb 20: 37
# of listings sold from Dec 20-Jan 20: 35
272 homes sold in the last six months in Englewood. Average number of homes sold per month over the last 6 months in Englewood: 45 homes
#sold (45 homes) X 12 (months) = 540
divide 540 by 52 weeks= 10 units per week
If 10 units sell each week divide that number into the number of active listings 10 divided by 540 = 54 weeks of inventory or a little more than a years worth of inventory in Englewood.
The average list price in Englewood for the last six months was $230,241 and the average sales price was $199,920. Average days on the market were 228. And the average size home that sold was 1620 sq ft under air.
Here's some more recent data that you might find interesting. A few homes that sold recently:
1. 10325 Hebblewhite Ct, Englewood, 3/2, 1559 under air, built in 2006, Originally listed for $159,990 and currently listed for $159,990 and sold for $159,990, DOM 13-All cash, Regular sale, No previous sales
2. 10247 Hebblewhite Ct, Englewood, 3/2, 1589 under air, built in 2006, Originally listed for $159,990 and currently listed for $159,990 and sold for $159,990, DOM 13-All cash, Regular sale, No previous sales
3. 850 Van Gogh Rd, Englewood, 3/3 with a pool, 2180 under air, Built in 1991, Originally listed at $249,900 and currently listed for $249,900 and sold for $223K, DOM 12, Conventional Loan, Regular sale, Last sold Oct, 1996 for $158K
4. 2132 Oyster Creek Dr, Englewood, 2/2, 1327 under air, built in 1973, Originally listed for $335K and currently listed for 269,500 and sold for $245K, DOM 399, Conventional Loan, Regular sale, Last sold June, 1992 for $119,900.
5. 10396 Alexandria Ave, Englewood, 4/2, 1913 under air, built in 2007, Originally listed for $118K and currently listed for $116,500 and sold for $118K, DOM 16, All cash, Short sale, No previous sales
6. 334 Eden Dr, Englewood, 3/2, 1538 under air, Built in 1989, Originally listed for $225K and currently listed for $189K and sold for $162,500, DOM 16, All cash, Regular sale, Last sold Sept, 1995 for $52,500
7. 8437 Kinglet Dr, Englewood, 2/2, 1475 under air, built in 2000, Originally listed for $135K and currently listed for $135K and sold for $115K, DOM 21, All cash, Regular sale, no previous sales
8. 9311 Casa Grande Ave, Englewood, 2/2, 1415 under air, Built in 1986, Originally listed for $179,900 and currently listed for $149,900 and sold for $137K, DOM 337, All cash, Regular sale, No previous sales recorded
9. 8230 Harborside Cir, Englewood, 3/2, 1590 under air, Built in 2000, Originally listed for $425K and currently listed for $425K and sold for $225K, DOM 90, Conventional Loan, Short sale, Last sold Dec, 2005 for $520K
And yet some more data for you:
Englewood's average listing price for the last 6 months $193,408-Average selling price for the last six months is $165,451:
Average list price Mar 22-Apr 22 was $206,286 and the average selling price was $179,604. Average size home was 1396 sq ft under air.
Average list price Feb 22-Mar 22 was $207,745 and the average selling price was $176,502. Average size home selling is 1525 sq ft under air.
Average list price Jan 22-Feb 22 was $219,794 and the average selling price was $176,053. Average size home selling was 1495 under air.
Average list price Dec 22-Jan 22 was $143,396 and average selling price was $129,252. Average size home selling was 1409 sq ft under air.
Average list price Nov 22-Dec 22 was $165,660 and average selling price was $146,519. Average size home selling was 1508 sq ft under air.
Average list price Oct 22-Nov 22 was $217,567 and average selling price was $184,773. Average size home selling was 1479 sq ft under air.
Hope this helps! Please let me know if you need anything :)
Shannon Moore, Realtor
Re/Max Anchor Realty
Yes there are a few homes selling here in Englewood. There are lots of signs on lawns and so I would suggest you will find some spectacular deals if you are in the market just now. And if you are in the market, I would suggest that you contact a "national mortgage broker" (maybe Bank of America or that ilk), and bring a pre-approval letter with you when you come here to look at homes.
If you are a seller and wondering why your house is still for sale, join the club. Probably it has little to do with the efforts of your agent, and more to do with the smell of the economy. I would surmise that mortgage rates will stay low all year (2009) and the flood of inventory that we have on our hands will begin to dry up as property transfers due to foreclosures and short sales skim the cheapest homes out of the pool of homes for sale.
If you are a seller and thinking about listing your house, think 2003 prices. There is no hard and fast rule except that homes that are priced to attract buyers--attract buyers.
Englewood--like many towns in the US--has homes at all price levels. From $40,000 up to $4+ million. But what is selling are the homes at the lower levels, say up to $300,000. Above $300,000 homes are selling for about half what they were 2 years ago...AND, most of those are empty of people and furniture, and worse, are not getting any maintenance of landscape, pools and etc.
Tarpon Coast Realty
To answer the second part of your question: currently in the Englewood area and Cape Haze Peninsula, there are 25 homes with sales pending that were listed for over $300,000. In addition to these pending sales, there have been 18 homes closed since September 1, 2008 which were over $300,000. Of the 18 homes sold, the list-to-sell ratio varied between 75% and 100% of the listed value. The average list-to-sell was 89% (with a median of 88%).
I am an agent that specializes in luxury homes and island real estate on Gasparilla Island (Boca Grande). I will share additional information with you if you would like to e-mail me at KReark@GasparillaProperties.com. Thank you.
Coconot Bay Realty, Englewood, Fl.
Jim Soda 941-809-7759
My BLOG: http://sodasells.wordpress.com/
Prudential Palms Realty
Web site: JimSoda.com
Sarasota-Lakewood Ranch-Siesta Key-Longboat Key
Immobel International Property Realtors
Based of information available there has been 285 homes recently sold in the Englewood area. Records show the average listing price for Englewood property is $425,000 while the median sale price for the period between July and September was $137,000.
The reason for the large difference in asking price to median price could be because of the large number of homes currently on the market located on Manasota Key, a high end location with homes priced significantly above the Million dollar level.
Please let us know if you require any additional information. We would be happy to assist you.
The "Eckler Team"
Michael Saunsers & Company
2008 Five Star Award for Outstanding Customer Service