REAL ESTATE STATISTICS RIVER CREEK GOLF COMMUNITY HOMES FOR SALE JUNE 2013 CONTINUE TO REFLECT A DIVERSE MARKET!
These statistics are a reflection of June 2013 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 JUNE
In June 2013 there were a total of 17 homes sold in River Creek. This was up from 14 in May. Of those sold 13 were townhomes and 4 were single family homes.
AVERAGE RIVER CREEK PRICES IN JUNE
The average price for Patio and Town homes was $646,669 up from the previous month. The average Single Family home price was $1,006,250 also up from those sold in May.
AVERAGE DAYS ON THE MARKET FOR RIVER CREEK HOMES FOR SALE IN JUNE
The great news for attached product sellers is that this continues to be a sellers market for attached homes with low inventory and decreasing days on the market. It is currently a Buyer's Market for Detached homes with inventory representing a 7.7 month supply. Average Days on the Market for townhomes and patio homes dropped from 49 days in May to 31 days in June; the Days on the Market for Single Family homes decreased to 29 in June, down from 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 the 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: 49 sold in the last 12 months or 4.1 per month. The absorption rate for Single family detached homes is: 31 sold in last 12 months or 2.6 per month.
PUTTING IT ALL TOGETHER!
So to make sense of all this you need to know the current inventory of homes so, as of June 8th here is the scoop! There are 9 Townhomes or other attached homes on the market which represent about 2.2 months of inventory and there are 20 single family homes on the market that represent almost 7.7 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.
Thats about it for now for River Creek Real Estate Statistics for June. See you next month!