AVERAGE PRICE
I'd call the October sales prices holding steady. It is good to see that they are up from last month a bit and up from last year same time. Looks like perhaps we're gonna be bumping along the bottom for a while. Hopefully with spring buyers we will see lower inventory and at that point maybe the prices will start to climb again. I'd love to see some building permits being pulled on the lake, but those are still few and far between in our area. Of course what that does mean for buyers is that some really great priced inventory is still out there. I'm also happy to report the third home for more than a half million has sold on Lake Sinclair this year.
NUMBER SOLD
Looking for a little good news for the Lake Sinclair market report for October? Well the number being at 13 is the good news. It's a little up from last year and last month... both good. I am also hopeful the November number will be good as well just because of what is happening right here at Lane Realty. We have 5 Lake Sinclair homes currently under contract and up to 4 of them could close in November. MLS data shows 8 other Lake Sinclair homes under contract as well, but we don't list projected close dates in our system, so I'm not sure when those will close. But I like that more than one third of the Lake Sinclair contracts are Lane Realty's. At the current absorption rate we have 22 months of inventory. That still spells buyers market.
DAYS ON MARKET
While the days on the market aren't back down to the "good old days of 30 to 60" they are down from last month and way down from same period last year. That is the good news for sellers. And of course it means that homes are priced correctly when they take less time to sell.
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