Want to Live in Rolling Meadows in Lake Orion? When You Find a Home Don't Drag Your Feet!!
Rolling Meadows is an approximately 265 home sub in southern Lake Orion- a tad west of Baldwin Rd about 5 minutes north of I-75. A majority of the homes range in size from about 2000 sq. ft. to around 2800 sq. ft built between 1993 and 1996. Rolling Meadows has always been a desirable neighborhood of stately homes, manicured lawns, sidewalks, city water and sewer, subdivision tennis courts and swimming pool as well as a community club house.
Back in the peak times of 2005 home prices ranged from $290,000-$352,500 and homes seemed to fly off the market as soon as they hit the MLS. Well, prices in 2010 were much lower than 2005 but Rolling Meadows is still a desirable place to live and houses are still selling almost immediately. Of the 14 homes that sold in 2010, nothing took longer than 35 days to sell once they hit the market and 11 of those 14 homes sold in 10 days or less(disclaimer: days on the market is time from hitting their final asking price until the listing goes pending or CCS which is basically pending. I don't consider an overpriced listing to really be on the market.).
Other positive news: Even though there were more distressed sales in 2010 than in 2009, prices were higher in 2010.
14 sales in 2010
16 sales in 2009
2010: 5 bank owned sales, 0 short sales
2009: 1 bank owned sale, 2 short sales
Price per sq. ft. 2009 2010
$70-$80 3 units 4 units
$80-$90 8 units 4 units
$90-$100 5 units 3 units
$100+ 0 units 3 units
2010 sale prices ranged from $164,505-$237,000
2009 sale prices ranged from $153,000-$247,000
29% of the sales in 2010 sold for less than $200,000
38% of the sales in 2009 sold for less than $200,000
43% of the sales in 2010 sold for $220,000 or more
13% of the sales in 2009 sold for $220,000 or more
There has been 1 closing in Rolling Meadows so far this year and that house was a non-distressed sale that sold for $225,000 after 4 days on the market.
There are currently 2 sales pending- both short sales with asking prices of $185,000 and $190,000 and there are 2 homes for sale: a small ranch asking $149,900 and a 4 bedroom colonial asking $230,000. Both are non-distressed sellers.
If you are thinking of buying or selling in Rolling Meadows, Lake Orion MI please don't hesitate to contact me.
Keller Williams Realty