Home auctions for sale continue to struggle in various markets of Florida as sales declined during the month of March. Condos and townhouses, on other hand, proved to be popular among investors and buyers during the month, with several areas posting increased sales.
According to housing industry analysts, foreclosure auction in Orlando and non-foreclosed home-selling channels in various areas of Florida recorded fewer single-family dwelling sales during March 2011. In areas like Walton and Santa Rosa counties, sales of single family residences dipped in March of this year compared with the same 2010 month. In Santa Rosa, the sales drop was 2.88%, while Walton posted a year-over-year drop of 2%. Okaloosa, on the other hand, recorded a healthy 15.35% increase in single family house sales during the period.
Despite the drop in single family residential sales, most foreclosure auctions in Florida and non-foreclosed home selling markets posted increased townhouse and condo sales. In Okaloosa, sales of condo units and townhouses posted an increase of 15.35% in March 2011 compared with March 2010, while Santa Rosa County posted an increase of 42.86% over the same period. Walton County, on the other hand, recorded a 35% jump in sales for townhomes and condo units.
According to housing market analysts, prices of condominiums and town dwellings, particularly those offered as foreclosure home auctions for sale, have gone down considerably in the past two years. As the economy stabilizes, more people are getting encouraged and taking advantage of these cheap prices. They also stated that the rise in sales in these categories has a lot to do with the arrival of the Airborne group of the U.S. Army.
Although a lot of buyers still favor government-owned repo homes for sale and bank foreclosed properties, an increasing number of buyers are also finding that condominiums and townhouses are great deals, particularly with prices at this level. The average selling price of single family dwellings in Santa Rosa that were sold during the month rose by 1.35%, while condos and townhouses posted a price increase of more than 50%. In Okaloosa, single family dwelling prices dipped by 6.62%, while prices of condominiums and town dwellings fell by 23%.
Local analysts have stated that sales of home auctions for sale and regular dwellings will likely increase in the coming months as the spring buying season peaks. However, they did speculate that prices will continue to decline, particularly among single family residences.
Single Family Home Auctions for Sale Struggle in Florida is a post from: Foreclosure Homes Investing