Alaqua Lakes real estate is experiencing some bitter sweet real estate news in 2011. While the real estate sales in Alaqua Lakes have experienced a huge increase from 20 sales in 2010 to 24 sales in 2011, which represents a 20% increase, it came at a heavy price.  Presently there are 34 homes for sale in Alaqua Lakes, 12 are short sales and all short sales are pending and no traditional sales are under contract.  Based on the current sales pace of 2.4 homes per month, there is a backlog of 14 months of unsold housing inventory

While the increase in home sales is encouraging, it has come at steep price declines in the average and median sales price.  Compared to last year the average sold home price in 2011 was $718,000 or $179.18 per sq. ft.  In 2010 the average sold price was $977,555 or $199.90 per sq.ft. The decline in the average price range is 26.5 %. The median price experienced an equally heavy drop of 28.5 % from a high in 2010 of $947,000 to $675,000 in 2011. Basically if you bought a home in Alaqua Lakes in 2010 your home lost value in the 20% ranges.   An even more concerning statistic is the currently active listing inventory. The average listed price in Alaqua Lakes is $1,089,731 or $214.82 per sq. ft. and median price is $962,000 or $213.00 per sq. ft. which translates in homes being overpriced in the high 20 percentage range.  With the active home inventory being priced so high and 35% of the housing inventory being distressed the area is going to continue struggling with values in the future.

Of the 24 home sales this year, 5 were distressed sales, 1 was bank owned 4 were short sales. The traditional sales actually have performed even worst, where the average value of a traditional sale was $683,000 and the average median sales price was $625,000. So the traditional sales where in fact heavy discounted to get sold.  Pricing a home to sell is an art and requires years of experience, let  my 23 years of real estate experience be the pivotal point in selling your home at the highest possible price. Click here for a free market analysis.