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Apple Valley Lake Lot Market Report on December 13, 2020
Let's take a look at the Apple Valley Lake lot real estate market report. Currently there are 6 sales pending in the market overall, leaving 4 listings still for sale. The resulting pending ratio is 60.0% (6 divided by 10). So you might be asking yourself, that's great... but what exactly does it mean? I'm glad you asked!  The pending ratio indicates the supply & demand of the market. Specifically, a high ratio means that listings are in demand and quickly going to contract. Alternatively, a low ratio means there are not enough qualified buyers for the existing supply.
Taking a closer look, we notice that the $5K - $7K price range has a relatively higher number of contracts pending sale.  We also notice that the $5K - $7K price range has a relatively higher inventory of properties for sale at 3 listings. The median list price (or asking price) for all properties in this market is $6,375.
A total of 54 contracts have closed in the last 6 months with a median sold price of $6,850. Breaking it down, we notice that the $5K - $7K price range contains the highest number of sold listings.  Alternatively, only 1 listing has failed ... more

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