January 16, 2017 – Flagler County (including Palm Coast) has been called the poster child of the Great Recession. Undoubtedly, 2016 will mark the year in which the local housing market emerged from the cycle’s doldrums. Now, the first end-to-end look at the cycle that lasted more than a decade; the bubble, the crash and the recovery.
November 14, 2016 – Demand for homes in Flagler County and Palm Coast is strong. Unfortunately, the low inventory of existing homes for sale and a growing but insufficient pace of new home construction have created an imbalance between supply and demand. The result: higher sale prices and rents.
July 21, 2016 – With six months of sales under our belt, GoToby.com takes a look at year-to-date (YTD) home sales compared with the tally during the same period one year ago.
June 20, 2016 – Another Realtor® reminded me the other day that I had not taken a look at absorption rates lately. I do that today. I also look at some other important numbers at the community level.
March 5, 2016 – Although some March home sales are yet to be reported to Flagler MLS, the picture is already quite clear. The market is heating up.
December 14, 2015 – Year end housing market statistics will be warped this year. The Consumer Financial Protection Bureau’s new “Know Before You Owe” TILA-RESPA Integrated Disclosures Rule (TRID), mandated by the Dodd-Frank Bill, has increased the time for loan initiations and closings by an estimated 15 days. Delayed closings involving mortgages during the final months of the year will artificially lower reported housing sales.
Aside from the TILA-RESPA induced slowdown in closings, the Palm
November 16, 2015 – The Palm Coast and Flagler County housing market is doing very well. So too is the local economy. As in previous months, all indicators are positive.
September 14, 2015 – The health of Flagler County’s housing market is revealed by the accelerating drop in the number of distressed (REO and short sales) home sales. Distressed sales accounted for more than half of Flagler County’s single-family residential home sales (as reported through MLS) for three years running (2009 to 2011). In 2015 year-to-date through August, that percentage has dropped to 22.3%.
August 18, 2015 – The total value of single-family Flagler MLS home sales in July exceeded $50M, the highest level since June 2006 and 502% above the January 2008 low. Still, the July total remains 41% below the June 2005 peak. How so?
July 8, 2015 – The Palm Coast and Flagler County real estate market is in full recovery mode. That fact is undeniable. The numbers are simply too good. Every indicator is headed in the right direction and the “buzz on the street” indicates no slowing down.
June 17, 2015 – The positive trend in the Flagler County real estate market continues with fewer distressed sales. Short sales comprised 41.5% of all local single-family home sales in 2009. That measure dropped to 1.9% in May. May was very positive with slightly more homes sold, higher median prices, fewer distressed sales, fewer new foreclosures, fewer foreclosure completions and more building permits for new homes.
April 21, 2015 – As some parts of the country are talking about a housing market slowdown, the Flagler County and Palm Coast housing market continues to plug along in positive territory by all measures.
January 21, 2015 – 2014 was a good year. By all measures, the Palm Coast and Flagler County housing market is rebounding steadily from the effects of the Great Recession.
December 15, 2014 – For the first time since 2007, the percentage of Flagler County home sales comprised of distressed properties (lender-owned via foreclosure or short sale) dropped below 25%. During the depth of the Great Recession (2009 to 202), distressed properties contributed more than half of all home sales. 2007 was the first year that the Flagler MLS began to report short sales and REOs separately.
November 11, 2014 – Palm Coast and Flagler County will remember 2014 as marking the end of the foreclosure crisis. While there are still 851 open foreclosure cases to deal with, the number of new foreclosure filings has returned to normal levels. Thirty new foreclosure filings in October represent the lowest number of new filings in the county since June 2006.