| Overall, we have seen a continuation of the trends observed in past months. Lots of homes, fewer buyers.
First, lets take a look at what has sold in Holiday Lake Estates: SOLD IN HOLIDAY LAKE ESTATES - OCTOBER 2006 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Address | Orig LP | List Price | Sale Price | $/SqFt | Sq. Ft. | Beds | Baths | DOM |
| 17044 SHADY LANE DR | $969,000 | $969,000 | $960,000 | $460 | 2,088 | 4 | 2.5 | 33 |
| Orig LD | List Date | Sale Date | COE Date | | ||||
| 8/16/2006 | 8/16/2006 | 9/18/2006 | 10/24/2006 | |||||
Again, we have another month in which only one home has sold.
As we have seen in the past, this home was priced below the million dollar mark and has sold more quickly than other higher priced properties inside Holiday Lake Estates. The home sold under asking price. This gave the seller 99.1% of their asking price.
Inventory - Supply and Demand
While observing what has sold in our market can tell us a great deal, we can also learn a great deal from the homes that are currently available for sale. Here are some of the numbers that will help us understand better the current market. Remember, these numbers are only about what is on the market, not about what has sold.
- Active Listings: 8
- Average Asking Price: $957,994.00 (down from over 1 million last month)
- Average Days On Market: 84 (very little difference between homes over or under 1 million)
- Average asking price per square foot: $401.00 (down 7$ per square foot from last month).
The average asking price for homes currently on the market has dropped since last months average of $1,032,208.00. That is a drop of 7.2% in just 1 month.
The good news is that inventory did drop this month. However, the single sale just does not account for the shrinking inventory. So here are the homes that went off the market in October for reasons other than a sale:
| Street Address | List Price | Beds | Baths | SqFt | Age | DOM | Status |
|---|---|---|---|---|---|---|---|
| 17570 BLUE JAY DR | $1,800,000 | 4 | 4+ | 5167 | 25 | 63 | Cancelled |
| 2951 HOLIDAY CT | $1,148,000 | 4 | 3 1/2 | 2987 | 46 | 122 | Expired |
| 17075 SHADY LANE DR | $1,099,950 | 5 | 3 | 3491 | 29 | 178 | Expired |
| 17260 OAK LEAF DR | $929,950 | 3 | 3 | 2048 | 33 | 7 | Cancelled |
| 17010 HOLIDAY DR | $889,000 | 5 | 3 | 2827 | 30 | 48 | Cancelled |
After you review these items, you can see that the very most expensive listings in Holiday Lake Estates either expired or were cancelled in October.
Even more interesting is that a home was listed and cancelled in the same month. Some of these may be the usual moves we see before the holidays. However, there are clearly properties that were simply priced too high for our current market and just never sold.
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