Home prices have been going up for the past three years in Loggers’ Run. The numbers show similar increases across the board. We looked at single family homes larger and smaller than 2000 square feet, and also at townhouses and villas (in Timberwalk).
For the larger single family homes (excluding foreclosures and short sales), the average price rose to $473K at $178/sq.ft. That’s up from $453K ($171/sq.ft.) in 2015, and $442K in 2014 ($163/sq.ft.), or a 7-9% increase compared to two years earlier.
In 2016 there were 36 transactions in the over 2000 square foot category for as low as $335,000. Several larger homes sold for over $600K. Listings take an average of just over two months to sell.
Smaller single family homes prices also increased. The average rose to $328K in 2016 ($192/sq.ft.) up from $313K in 2015 ($177/sq.ft.) and $311K in 2014 ($175/sq.ft.). That’s a 4% increase in prices and 7% in dollars per square foot from 2015, though 2015 was not up significantly from 2014. Five homes sold for $300K or less, while three homes sold at $375K, the highest for this group. Homes in this group sell a little quicker than the larger ones, averaging over a month.
We also looked at townhomes and villas in Timberwalk, south of Palmetto Park Road and Logger’s Run Middle School. They range from 1200 to 1600 square feet. The average price rose to $217K, up from $210K in 2015 and $192K in 2014 – up 13% in 2 years. Measured in dollars per square foot they rose from $142/sq.ft. in 2014 up to $166/sq.ft. in 2016 – a 17% increase.
The high end hasn’t changed that much in Timberwalk, with the top at or near $250K all three years. It’s the bottom that has changed. In 2014 most homes in the subdivision sold for $200K or less, and as low as $140K. In 2016 only 6 out of 33 homes sold for less than $200K and the lowest was $180K. Average “days on market” was similar to the under 2000 sq.ft. houses at just over a month.
We exclude “REO” and short sale transactions from our analysis because those prices aren’t as meaningful to most of our readers. We did look at the numbers including those and it did not make a big difference.