Here is a look at some recent real estate market stats for The Villages, FL.
This data comes from the local MLS, and it only pertains to resales sold through outside Realtors. It does not include new homes, or resales sold through the developer.
With the exception of the occasional update on how many new homes are sold each year, the developer tends to keep their stats pretty much under lock and key, especially as it pertains to resales. You can use your imagination as to why that is.
|Properties for Sale 1||289|
|New on Market||148|
|Avg. Asking Price/Sq.Ft.||$190|
|Avg. Sale Price||$302,283|
|Avg. Sale Price as % of Asking Price||97.0%|
|Avg. Sale Price/Sq.Ft.||$168|
|Avg. Days on Market of Sold||86|
1. Data as of Jan, 12 2020.
Remaining statistics above are calculated on activity within the period from Dec, 12 2019 to Jan, 12 2020
Here’s a closer look at some of the most important stats, along with some commentary where appropriate.
Average Sale Price
Average Days on Market of Sold Homes
The Villages average days on market of sold homes is toward the higher end of the national average range of 65 to 93.
You might think, “huh, that’s weird, I thought The Villages was a hot real estate market?”
But you have to remember that all of these homes sitting on the market are competing directly with the more than 2,000 brand new homes that the developer is building and selling each year.
Plus, from what I’ve seen, most home sellers think that if the developer is selling the same floorplan they have for $XXX,XXX then they should be able to fetch the same price. Not so!
Number of New Properties Listed
Average Sale Price as a % of Asking Price
On the surface, this seems like a very positive stat for home sellers, and a warning to buyers that they don’t have much room to negotiate.
But thats not how I see it 😉
Remember that above we saw the average number of days on market was around 90 days.
Price reductions typically occur during that time, with most agents asking their sellers to consider price reductions every 20-30 days or so.
So, (just making up numbers here) a house that starts off priced at $300,000 might get dropped to $289,000 after 30 days, $275,000 after 60 days, and then might sell for $265,000 around the 90 day point, resulting in a (roughly) 97% sales price to asking price ratio.
|Date||Avg Sale/List Price|
* Values for current month represent month-to-date statistics
Again, remember, about 35-40% of resales are sold through outside Realtors. Here’s why you need one and how to get one.