REAL ESTATE STATISTICS BELMONT COUNTRY CLUB AUGUST 2013 CONTINUE TO REFLECT A SELLER’S MARKET!
These statistics are a reflection of August 2013 Statistics for Belmont Country Club Homes for Sale. 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 BELMONT COUNTRY CLUB HOME SALES IN AUGUST
In August 2013 there were a total of 8 homes sold in Belmont Country Club. This was up down from 15 in July. Of those sold 2 were condos, 4 were townhomes and 2 were single family homes.
AVERAGE BELMONT HOME SALE PRICES IN AUGUST
The average price for Condos was $257,450 up slightly from the previous month; the average price for Townhomes was $513,250 up 2% from the previous month. The average Single Family home price was $642,500 down from the previous month. Don't get hung up on the increase or reduction in average price, its a small sample size and not statistically significant.
THERE IS A SHORTAGE OF INVENTORY! PLEASE CALL IF YOU KNOW ANYONE INTERESTED IN SELLING RIGHT NOW!
AVERAGE DAYS ON THE MARKET FOR BELMONT COUNTRY CLUB HOMES FOR SALE IN AUGUST
The great news for sellers is that this continues to be a sellers market with low inventory and low days on the market. Average days on the market was 9 for condos, up from 3 days the previous month; Average Days on the Market for townhomes increased from 20 days in July to 52 days in August; the Days on the Market for Single Family homes increased from 18 days in July to 29 Days in August. All of these are VERY low days on the market.
FASTER IS BETTER RIGHT?
ABSORPTION RATE STATISTICS FOR BELMONT COUNTRY CLUB 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.
BELMONT COUNTRY CLUB REAL ESTATE STATISTICS - ABSORPTION RATES
Okay so the absorption rate for condos is: 14 sold in the last 12 months or 1.2 per month. The absorption rate for Townhomes is: 57 sold in the last 12 months or 4.8 per month. The absorption rate for Single family detached homes is: 50 sold in last 12 months or 4.2 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 September 4th here is the scoop! There are currently 3 condos on the market so that represents about 2.6 months of inventory at the current absorption rate. There are 5 Townhomes on the market which represents about 1.1 months of inventory and finally there are 16 single family homes on the market that represent about 3.8 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
Thats about it for now for Belmont Country Club Real Estate Statistics for August. See you next month!
By the way....we are never too busy for your Referrals!