Hello Neighbors! This report is the first in a series to help keep you informed of real estate activity in our neighborhood. As you can see, inventory continues to be tight, with a small number of homes sold in the month of December. The good news is that the overall Sold Price increased 9.8% from the same period in 2015.
Inside the numbers, the Sold Price Per Square Foot of living space ranged from $587 to $267. While on average we can see that these homes sold for nearly their exact list price, Days on Market tells us that sellers who priced their homes correctly often sold on the first day or week of sale for up to 7% over list price, while those that were priced too high lagged for nearly two months and sold for as low as 94% of list price.
Overall, we are still in a strong sellers’ market. Homeowners enjoy a wealth of options when choosing when and how to utilize the equity in their homes.
If you have any questions about Real Estate or if you’re interested in receiving a free market valuation for your home, you are welcome to contact me today to learn more.
Sales Information provided courtesy of MRIS, LLC.