In the short-term our market has been fairly stable, our absorption rates basically unchanged from last quarter, but are better than last year. Still only one in two homes have sold, leaving plenty for buyers to choose from.
There were 3 homes in Broadmoor sold since June of this year. They closed out at $170,000 to $215,000. They were between 1808 to 2147 square feet, and only on the market between 93 to 144 days. Their closed price puts them at $93 to $107 per sqft.
The homes for sale in Turnberry Lake are asking between $314,900 to $599,000. They have been on the market from 97 to 404 days, and their price per square foot runs between $132 to $147.
Six homes have recently been sold along Millhopper Road and are waiting to close. The land measured between .33 to 1.07 acre. The buildings are between 1411 to 4028 square foot, and they had been on the market from 52 to 406 days before they went under contract. Their asking prices ranged from $236,000 to $645,000, with price per square foot being $94 to $137 .
Alachua County has had more home sales and fewer new listings this year than the first 6 months of 2010, but house prices have come down a little anyway, while our supply of residential inventory has gone up – we now have about an 18 month supply of homes on the market.