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What's My Ladd Park Home Worth? Market Report for June 2014
What's My Ladd Park Home Worth? Market Report for June 2014
Properties currently Active on the market: 41 Single-family properties closed in June: 7 Average sales price: $485,482 Average list price: $484,046 Average sales price to list price ratio: 100.3% Average days on the market: 95 Pending sales: 30 Ladd Park absorption rate: 6 months of inventory (a normal or steady market would be 5-7 months, a buyer's market would be in excess of 7 months, and a seller's market would be less than 5 months) Ladd Park is in a normal or steady market but sellers shouldn't be naive about what is happening in this neighborhood. Of the 7 closed sales, 5 were new construction. The good news to sellers is that new construction is bringing up the home prices in your neighborhood. The bad news is you're going to have a very tough time competing with the new builders for buyers. The only way to really do that is undercut their price or offer assistance to buyers in the form of closing costs. Just to give you an example, one existing home was on the market 301 days before it finally sold. OUCH!
Seventy percent of the homes currently listed ... more

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