Agressive Sellers Drop Prices in Palencia near St Augustine, Florida
November 4-10th was an active week in Palencia home sales with 5 price drops, 1 auction listing and 1 home placed in pending.
Entry level homes sized from 1600-3000 square feet, prices range from a low of $139/sf to high of $368/sf. The median price in this range is $173/sf which is still high considering that recent sales in this range are at $132/sf. There are currently 37 houses in this range on the market. The last closing in this price range was in September. Several are scheduled for November.
Home sizes 3000+ square feet are fairing better in holding their prices. There are 42 homes on the market in the mid-size range (3000-3999 square feet). They range in price from $165/sf to $342/sf. The median price in this range is $209/sf. The 2 last sales in this range were in September with prices between $149 & $172/sf.
Estate sized homes at 4000+ sf are doing well with 2 sales in the past 30 days ranging from $164 - $373/sf. There are 23 active listings in MLS ranging from $176 to $525/sf.
Traffic in the community is up for drive throughs due to the Palencia Holiday Showcase homes, but showings by Realtors is down due to community fall festivals, sporting events and the onset of holiday schedules.