Having examined useful and interesting numbers on property sales, we would like to draw your attention to the volume of business generated. This graph compares the purchase prices and market value of refurbished property. Purchase price and market value of property sold during the year amounted to millions of USD, with an average mark-up of 62%. The most profitable month in 2014 was April: with a mark-up of 76%, it registered sales for 7.1 million USD, with a market value of 12.5 million USD (net of costs); October 2014 registered the lowest point in terms of revenue: despite property sales of 3.5 billion USD, the actual market value was only 5.1 million.
AVERAGE PURCHASE PRICES
Through a cross-comparison of analyzed data we can glean some precise insight into average property sales at auction. Note that this does not apply to the type of properties most in demand on the market, but to those most likely to be exposed to distress sale, foreclosure or resale.
On average, during 2014, homes were purchased for 82,000 USD and resold for 132,000 USD, with an average mark-up of 62%. The peak in profitability was registered in April when, on average, property was purchased for 72,000 USD and resold for 126,000 USD, with a mark-up of 76% (as already mentioned), while October saw property bought on average for 84,000 USD and resold for 121,000, with a mark-up of only 43%.
The city with a greatest turnover is St. Petersburg with 25.4 million dollars in transactions per year, peaking in July where $4.5 million is the average. Clearwater follows, with a total of $11 million, and Palm Harbor boasts Real Estate sales of $8.3 million per year.
The month-by-month trend of at-auction bestsellers indicates that what sells most is undoubtedly property ranging between 75,000 and 125,000 USD; as far as the under-25,000 USD range is concerned, it must be noted that most of these sales are linked to technicalities enabling buyers to shoulder the burden of mortgages on the properties purchased. Of all foreclosure real estate, only a small percentage is assigned to third parties; the majority, in fact, is awarded to lending institutions.