Happy 4th of July everyone! I hope it's been fun and safe so far and will continue to be.
I've gathered information from MLS to give you a brief overview of home sale activity in our neighborhood for the past six months compared to the same time frame last year-January 1-July 3.
- This year, since January 1, there have been 11 homes that have closed. Three of those were in The Links and one of them was in The Reserve.
- There are currently two pending sales with one of those being in The Reserve.
- There are 19 homes active on the market. Five of them are in The Links and one of them is in The Reserve.
Last year, during the same time frame, we only had eight homes that closed. Of the homes that closed in that time period last year, comparing the list price to the actual sales price, the homes sold on average sold for 2.2% less than list price which is great. Taking into consideration is that fact that four of those homes were in The Reserve and were new construction. New construction homes many times have upgrades added by the buyer which cause the sale price to be greater than the list price and when averaging these, the list price to sale price ratio is lower.
This year, of the homes that have closed, there was a difference of 5.4% list price to sale price reduction on average. Of the 11 that closed, only one was in The Reserve. Existing home sales, if not priced aggressively in the beginning, tend to close at a lower price while taking longer to sell. Pricing competitively from the start along with having your home in top condition, is more important than ever and hopefully, if you're home is on the market or you're about to place it on the market, will put you in the position that when an offer comes your way that it's no less than list price!