Winter Haven Florida Housing Report for February 2009

The Fed’s latest rate decision should keep Florida mortgage rates low, and from the looks of the February 2009 home sales data, we could be in for a bit of a dust up come the end of March!

Though average home sale values have kept on the decline by about 24% as compared to last year’s numbers, the month of February showed encouraging results with increased home sales and prices since January.

Winter Haven, Florida Homes Sold Data – February 2009

Winter Haven’s median home prices remained unchanged for February at $98,000, but some good news is to be found in that average sales prices increased by 2.38% to $117,026. All told, total of 57 Winter Haven, Florida homes were sold in February – up 13 from the 44 homes sold in January.

It’s no surprise that foreclosures make up the majority of home sales. Currently, about 50% of homes for sale in our area are in foreclosure. With over 1,260 properties currently for sale and pending, we are experiencing a high absorption rate as it has been reported the previous month.

Distressed properties are homes in pre-foreclosure, foreclosure, bank-owned, or going through as short sales. Of the 57 homes sold last month here in Winter Haven, 29 of them were distressed, which sold for an average sales price of $97,762 ($52.49 per sq.ft.). At present, there are 254 distressed homes currently on the market.

Folks – if you’re looking for the right time to buy – NOW is the time. Match these homes up with the USDA Rural Development home loan program, an $8000 tax credit, and wow! You have yourself a pretty sweet deal!

Note: 101 homes are in pending status waiting for bank or lender approval to close.

Take a look at the spreadsheet below. I’ve separated the report by zip code instead of school zones; it gives you a more accurate report in my opinion. The data for this report was obtained from the Mid-Florida Regional MLS, it is deemed reliable but not guaranteed. This report does not include “For Sale By Owner.”

Winter Haven, Florida Homes Sold Market Report – February 2009

Winter Haven, Florida Homes Sold – February 2009

Interactive Map

For more information on the location of the Winter Haven, Florida homes sold, along with price and size of each home, click on the interactive Community Walk map below, which was created by Chuck Welch here at MetroI4News.com.

CommunityWalk Map – Winter Haven Homes Sold February 2009

CommunityWalk Map – Winter Haven Homes Sold February 2009

Originally published at the Florida Mortgage Blogger