Office Update
RE/MAX Flagstaff continues to be in the top 15 in the Flagler County Association of Realtors with 116 transactions and $13,714,013 in sales volume. Productivity per agent is an outstanding $2,742,800
Way to go RE/MAX Flagstaff Team!!!
Flagler County Real Estate Update
Single Family Residential
There were 153 Single Family Residential sold in September with a Median Price of $150,000. The number of sales has declined over the past 5 months while total inventory has increased during the same time frame. The good news is Median Price has held and even increased. The Median Price for the past three quarters 1st quarter – Median Price $132,670 2nd quarter – Median Price $141,750 3rd quarter Median Price $150,000. A 12% increase in the first 9 months of the year.
The majority or 59% of single family residential sold were between $100,000 and $199,999. The next largest group was the $200,000 to $299,999 range with 15% of the total number sold. In the luxury market, $500,000 and higher, there were a total of 3 sold in September and a total of 46 for the year or less than 3% of the total market.
Distress sales made up 31% of the total sold for single family residential. That number has been declining through-out the year with most of the decline coming from short sales. (see chart below) Currently there are only 38 short sale single family residential currently on the market. Most of the short sales are in a pending status, under contract, awaiting bank approval.

Condos
Sales dipped again this month with 28 sales, but continue to be steady with an average of 29 units sold a month. Median Price jumped to $270,750 due to the 5 sales over $700,000 one being $1.6 million. The Median Price is the price in the middle of the least expensive and the most expensive of the properties sold. The average price of condos sold was $342,740.
The low sales price was in The Village that sold at $48,800. This unit originally sold for $40,900 in 1985.
The high sales price was in Hammock Dunes - Le Jardi which sold for $1.6 million, cash sale! The unit original sold for $1.3 million in 2009.
Every month I scan the sold properties looking for the least disirable and most disirable home sold. I dubbed them the DOG of the month and the PEACH of the month.
Jimmy's Picks of the Month!
DOG of the Month

The dog of the month is 32 Farragut Dr. A 2 bedroom, 2 bath with 1162 living square feet and 1 car garage. It sold on June 1, 1996 for $60,000. The last sale was on Sept 30, 2013 when it sold for $50,000 as a bank owned property.
PEACH of the Month

The peach the month is 26 Ocean View Circle. 4 bedrooms, 3.5 bath rooms, 2 car garage, with 2,480 living square feet built in 2005. It sold for $566,000 on 9/17/2013.
Whether you are thinking of buying your dream home or that investment property think of us, RE/MAX Flagstaff, your preferred RE/MAX office. www.RMFlagstaff.com
Jimmy & Annette
Snap shot for September 2013 Month over Month for all sales
Listings | Aug | Sept | % Difference |
Residential | 800 | 849 | + 6% |
Condos | 227 | 239 | + 6% |
| | | |
Sales | Aug | Sept | % Difference |
Residential | 173 | 152 | -13% |
Condos | 34 | 28 | -18% |
| | | |
Medium Price | Aug | Sept | % Difference |
Residential | $145,000 | $149,950 | + 4% |
Condos | $174,750 | $270,750 | + 36% |
| | | |
Days on Market | Aug | Sept | % Difference |
Residential | 89 | 88 | - 1.5% |
Condos | 120 | 187 | + 36% |
The below Table shows a month-to-month and year-over-year comparison of single family home sales for years 2011, 2012 and 2013.
Median prices are Fair Market Prices, distressed properties removed.
| 2013 | | 2012 | 2011 | 2013
over
2012 | 2013
over
2012 |
| Total Sales/ Non-Distressed | Median Price | Total Sales/ Non-Distressed | Median Price | Total Sales/ Non-Distressed | Median Price | Sales
Year over Year | Median Price
Year over year |
January | 115/65 | $178,125 | 123/52 | $139,500 | 80/37 | $155,000 | -7% | +22% |
February | 150/84 | $150,000 | 145/74 | $146,000 | 94/37 | $122,250 | +3% | +3% |
March | 191/112 | $147,250 | 187/93 | $128,000 | 119/48 | $161,500 | +2% | +13% |
April | 203/124 | $165,000 | 183/79 | $162,900 | 153/56 | $147,500 | +10% | +1% |
May | 181/123 | $178,000 | 209/115 | $153,900 | 153/70 | $154,750 | -13% | +13% |
June | 173/111 | $169,900 | 194/90 | $135,000 | 183/82 | $147,750 | -11% | +21% |
July | 220/143 | $173,000 | 188/96 | $143,500 | 167/86 | $143,750 | +15% | +18% |
August | 173/118 | $157,250 | 171/101 | $150,000 | 131/72 | $149,500 | +2% | +5% |
September | 153/105 | $165,000 | 151/93 | $150,000 | 141/59 | $128,000 | +1% | +10% | |
October | | | 157/78 | $158,750 | 127/61 | $146,000 | | |
November | | | 143/68 | $146,000 | 129/61 | $140,000 | | |
December | | | 160/82 | $138,500 | 141/59 | $160,000 | | |