SECOND QUARTER 2008 MARKET REVIEW vs. FIRST QUARTER 2008
| Second Quarter 2008 SOLD: 6 Corporate Owned: 1 Foreclosure: 0 Owner Transfer: 1 Lease/Purchase: 0 No Special Circumstances: 4 HIGH SOLD: $717,000
LOW SOLD: $605,000 AVERAGE SOLD PRICE: $629,166 DOM AVERAGE: 32
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First Quarter 2008 SOLD: 2 Corporate Owned: 0 Foreclosure: 0 Owner Transfer: 0 Lease/Purchase: 1 No Special Circumstances: 1 HIGH SOLD: $483,000 LOW SOLD: $438,000 AVERAGE SOLD PRICE: $460,500 DOM AVERAGE: 44
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ANALYSIS
- Number of homes sold second quarter for 2008 vs. the first quarter: ^4 units
- Average SOLD price second quarter for 2008 vs. first quarter: ^37%
- Average DOM: <12 days>
- Average list to sale price percentage: No Change
- There is currently 25 homes on the market in Rivermoore Park.
- The average list price is approximately $592,000.
- Predominant price range is between $500,000-$600,000
- Highest List: $1,099,900
- Lowest List: $369,900
What has increased is seller concessions:
- Highest seller concessions in the second quarter: $10,000
- Lowest seller concessions in the second quarter: $38
- Average seller concessions in the second quarter: $3918 vs. $135 first quarter
As indicated in the table above, the increase of average sold price this quarter over first quarter is, in my observation, a result of the price point of homes marketed and sold. This report is not intended and does not give indication of the appreciation of home values in Rivermoore Park for the time period reviewed.
List to sale price percentage first quarter 2007 was 96%; and, this percentage is remaining steady. Days on market is also doing well: The actual days has actually declined - which is not the case for most of the market. Overall, Rivermoore Park seems to be holding up well in the market.
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