Alaqua Lakes, one of the premier luxury subdivisions here in the greater Lake Mary / Longwood area has seen a drop in luxury home sales for July compared to the same month of 2010. Sales dropped from 7 sales last year to 5 sales this year, or 28%. While 2 less home sales is not a significant amount of homes, it still is a drop and during these tough real estate times and economic down turn it is not welcome news. The homes which did sell in Alaqua Lakes were:
- 3335 Oakmont Ter. $365,000 (not a typo) 2236 sq. ft. $163.24 per sq. ft.
- 3232 Regal Crest Dr. $514,900, 3101 sq. ft., $166.04 per sq. ft.
- 3113 Regal Crest Dr. $574,000, 3558 sq. ft., $161.33 per sq. ft.
- 2030 Alaqua Lakes Blvd. $825,000 , 4201 sq.ft. , $196.38 per sq. ft.
- 3365 Fernlake Pl. $865,000 , 4523 sq. ft. , $191.24 per sq. ft.
One very concerning factor was also the drop in the average home price in July, it went from $899,857 in 2010 to $628,780 in 2011 or a drop of 30%. A similar drop was in the per sq. ft. price. It dropped from $175.00 in 2010 to $151.36 per sq. ft. in 2011 or a 18% drop. All the sales according to the MLS were normal sales, not distressed and the drop in value was not the cause of banks dropping the prices. There are currently 40 luxury homes for sale in Alaqua Lakes, 14 are short sales and 14 are pending. Year over year home sales are still ahead in 2011 by 3 homes, from 14 sales in 2010 to 17 sales in 2011. Home prices vary by location and condition of a home and to find out the value of your home please fill in the information on the blog to the right or click here for a Free Home Evaluation.
