Palm Coast, FL – March 29, 2012 – As home sales in the Palm Coast golf course community of Grand Haven shift to fewer distressed properties, the median selling price is rising. Sixty-two Grand Haven single-family homes are listed for sale (MLS). Only five are listed as short sales. None are lender-owned. Only 11 are listed below the 2011 median selling price. The median price of Grand Haven homes sold (closed) so far this year is $338,750, up 35.5 % from 2011's median.
Median price represents a value where half of all sales are above and half below. Standing alone, it indicates changes in value to some extent, but median price is sensitive to changes in the selling mix as well. We need look to other measures too. The average selling price was up, but only 6.8%. And the average price/square foot increased 5.7%.
So what does it all mean? Everything is pointing in the right direction. Median price, average price and price per square foot are all on the rise. The number of distressed properties is on the decline. It appears that Grand Haven is moving into positive territory. So long as distressed inventory does not increase, values should continue to rise.