# of Closed Sales: 4
Average Days on Market for Solds: 12
Median Sales Price: $447450
# of news listings: 6
Months of Inventory Last Month: 2
April saw a bit of a lull in activity that was uneven. Homes that sold had been on the market half the time of the month before. But, homes that didn’t seem to be sitting a bit longer. With four active listings on the market simultaneously, two of mine went under contract is 1 & 9 days. The other two have been on the market 22 & 35 days.
Sellers should be prepared for a cooler market. Fundamentals have not changed, so this is subject to change, but showing traffic is slower and offers are fewer and far between. This may represent buyers being more cautious in the face of a competitive market.
Whatever the reason for the lull, this is still very much a Seller’s market. On of my listings at $500k went under contract for 100% of asking price AND has a back-up offer that is also 100% of asking price. Another listing at $425k went under contract for 103% of asking ($435k), with an inspection waiver and a guarantee of covering any gap between the purchase and appraisal price.
In the coming months, expect more of the same. I hope/anticipate that we see interest increase as seen in increased showing traffic.
Terrain is still a great place to live and investment for the future! This month, one of those sales is ours as we purchased a new build at the far north end of the development. Now if we could just do something about those people who don’t pick-up after their dogs…