REAL ESTATE STATISTICS, RIVER CREEK GOLF HOMES FOR SALE MAY 2013

By
Real Estate Agent with Keller Williams Realty

RIVER CREEK REAL ESTATE STATISTICS CONTINUE TO REFLECT A DIVERSE MARKET! 

These statistics are a reflection of May River Creek Golf Community Clubhouse2013 Statistics for The River Creek Golf Community. If you would like to see more specific statistics for your area, i.e. a different zip code or a specific price range and geography please click here and make your request.

TOTAL RIVER CREEK GOLF COMMUNITY HOME SALES IN MAY

In May 2013 there were a total of 14 homes sold in River Creek. This was up from 7 in April. Of those sold 12 were townhomes and 2 were single family  homes. 

AVERAGE RIVER CREEK PRICES IN MAY

The average price for Patio and Town homes was $637,250 up from the previous month. The average Single Family home price was $862,450 also up from those sold in April.

 

AVERAGE DAYS ON THE MARKET FOR RIVER CREEK  HOMES FOR SALE IN MAY


The great news for attached product sellers is that this continues to be a sellers market with low inventory and decreasing days on the market. Average Days on the Market for townhomes and patio homes  dropped from 66 days in April to 49 days in May; the Days on the Market for Single Family homes was 50 in May!

 

So just like the AT&T commercial says.....relative to tying a Cheetah on Grandma's Back....Faster is Better Right?..... You Bet!

ABSORPTION RATE STATISTICS FOR RIVER CREEK HOMES FOR SALE

 

So what is absorption rate? Absorption Rate is how many homes are sold in a given period of time. So if 120 homes sold in theRiver Creek Pool House last 12 months, then the absorption rate is 10 homes per month. So why is this important?  It is only through absorption rate that one can define a market in terms of a Sellers Market, Buyers Market or a Balanced or Normal Market.

 

 

WHY IS ABSORPTION RATE IMPORTANT?

Because it determines how quickly homes move on and off the market....and you want to know that right? So you know how long it will take you to sell your home if priced properly, so you can make that move for your job, or buy that move-up home, or be able to predict with some level of certainty how long you have to keep your house clean and have people going through it when you have it for sale.

 

 

 

RIVER CREEK REAL ESTATE STATISTICS - ABSORPTION RATES

Okay so the absorption rate for Townhomes & Patio Homes is: 46 sold in the last 12 months or 3.8 per month. The absorption rate for Single family detached homes is: 34 sold in last 12 months or 2.8 per month.

 

River Creek Golf Community PoolPUTTING IT ALL TOGETHER!

So to make sense of all this you need to know the current inventory of homes so, as of June 12th  here is the scoop!  There are 7 Townhomes or other attached homes  on the market which represent about 2 months  of inventory and  there are 18 single family homes on the market that represent  almost 6-1/2 months of inventory.

According to the National Association of Realtors:

A Sellers market is defined by 1-4 months of inventory

A Normal Market is defined by 5-6 months of inventory

A buyers Market is defined by 7+ months of inventory

 

So the attached product is in a Sellers market and the Single Family Detached homes are in a Normal Market. 

 

 

CLICK HERE IF YOU WOULD LIKE A COMPLIMENTARY HOME VALUATION.

CLICK HERE FOR HOMES FOR SALE IN RIVER CREEK!

CLICK HERE TO SEARCH THE MULTIPLE LISTING SERVICE FOR FREE!

CLICK HERE TO SEE GREAT STUFF ABOUT LEESBURG

 

 Thats about it for now for River Creek Real Estate Statistics for May. See you next month! 

 

 

 

 

 

 

 

 

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Dan Ritchey, Realtor

Keller Williams Realty Loudoun Gateway

20130 Lakeview Center Plaza, Suite 110

Ashburn, VA 20147

www.RitcheyREsources.com

 

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