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Market Summary - Valencia at Abacoa

April 22, 2023 Over the past 90 days the price sold per sq ft has been at a low of $397 per sq foot, average of $451 per sq foot and a high of $500 per sq foot.

There are currently 4 active listings ranging from $1,150,000 - $2,649,000, with average list price of 1,773,500.

6 homes are under contract from $1,299,000-$3,250,000 with average list price of pending list price at $2,506,000. The days on the market before they went under contract has been all over the place! From as short as 5 days all the way up to 268 days. Averaging about 150 days on market.

Sales in this community are averaging at 87% of the listing price but of course it's a case by case, this is just an average.

Homes that closed in the past 90 days averaged 108 days on the market (from as short as 79-144 days). The days on market with luxury homes has risen (this, of course, varies by community/location) while we are seeing shorter days on market for entry level homes (again, this varies by community/location) as some mid buyers and experienced home buyers are being pushed to lower price points due to higher interest rates affecting their payments and ability to qualify. What I have experienced personally as an agent is that this market has been a moving target. There will be weeks where homes in the areas I serve are just sitting there with no action and then there will be a significant bump in buyer activity!!! I check the Hot Sheet everyday to see what has come on the market, gone pending and has closed in the areas I serve. I remember when there were only 100 listings at a time in Jupiter, for example, and now there are 416. There aren't many listings available in Valencia so that is good news for sellers! The trend of more inventory is helpful for buyers as they have more inventory to select from and for the most part homes aren't under contract the day they are listed unless they are priced under market and show well. Buyers were getting pretty worn out during covid and many went on pause but there are definitely buyers out there activating again at this time.

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