Fourth Quarter Sold Data for Dunes Park saw a tapering from the activity in Third Quarter 2010. There were two homes sold in 4Q as compared with nine sold during 3Q. Part of that is due to the usual slowing of the market in the 4Q winter months.
We did see a drop in sold price per square foot from 3Q’s $92 to $80 for the end of the year. This is largely due to the amount of distressed property sales. Of the 9 sold in 3Q, 5 were short sale or bank owned. Both homes sold in 4Q were lender owned. However, this is good news. It further reduces the distressed property inventory and helps to stabilize the market for Dunes Park.
This number is also a drop from the 4Q 2009 sold price per square foot of $132. None of the homes sold in 4Q 2009 were in distressed situations.
Home prices throughout Dunes Park remained relatively stable throughout 2010 until the last quarter.
The Bottom Line: Although prices did see a drop, available inventory is significantly low. If you know anyone who has been considering buying in Dunes Park, now would be a great time for them to scoop up a great deal.
If you are considering selling, but don’t need to sell right away, it might be a good idea to wait. Every home is unique in this aspect, so be sure to consult with a REALTOR who specializes in the area no matter when you decide to sell.
Comments(4)