As typical and historically at the end of summer we see a bit of slow down. Last year that wasn't what happened so not only are we down from last month (18) to just 16 Lake Sinclair home closings for September, we are also down from 20 last year for the same month.
Getting the other bad news out of the way you can see that the average Days On the Market were also up again both for the month and over the same period last year. Two were pending after only 11 days on the market, but three were over a year on the market with the longest being 1172 days. That of course drove the average way up. That home had 4 price adjustments before going under contract. Inventory is also down to 328 homes available on Lake Sinclair currently giving us a 20 month supply. Up a little over last month, but still lower than most months in the last 5 years.
And while the average sales price dropped over last month again one foreclosure in really bad condition on the lake sold for just $49,900 bringing the average way down. The highest selling price for September was $479,000. The list to sold price average was 94.03% While the average price was down over last month, it was higher than the same month last year by about $40,000. That is a good sign of recovery.
Want to know what's on the market right now? You can go to our website at Lake-Sinclair.com and browse all the current listings. You can also click on the links on the center of the front page to be able to save your search if you in the market right now. You do have to provide your valid email address and a phone number to be able to save your search.
I'd be happy to email you monthly market reports if you are "watching" the market to determine if you are in the market to buy or sell. You can call me with your email address to get added to my monthly newsletter that includes our market reports. It also includes some neat other things as well. You can also email me with "please send me market reports" in the subject line to tammy@lake-sinclair.com
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