For instance, a home in Sunset Village was on the market for only 4 days when it received an accepted offer for 97 percent of the asking price. In Dudegon-Monroe, a house sold the day it was listed for the full asking price.
However, there are other homes in the area that have not sold as rapidly. There are currently 40 homes on the market in these three neighborhoods, running the gamut from 2 bedroom ranches to 5 bedroom cape cods. Certainly something for every buyer!
So what has cooled the market? I think it's vacation. Yes, that's right, vacation. Now I know that isn't a scientific answer based on sales statistics and price ratios. It's my gut feeling. Here's the thing about late July and early August: swim team season and Little League have concluded, but fall soccer and football have not begun. It's the perfect opportunity for families to take vacation. No one wants to be relaxing at the cottage while they have a home offer pending...how relaxing is that!
So I'm confident things will pick up again in late August. Interest rates continue to be at all-time lows and there in certainly inventory. And summer vacations will be coming to a close.
See what happened in July below. For information on other neighborhoods in the city, visit the hyper-local neighborhood blog at What's Happening in My Neighborhood.
Sunset Village-July Sales
Address | 1st Price | Last Price | Sold Price | SP/FP | SP/LP | Cum. Days of Market | # Days From Last Price Change Until Offer |
4012 Hammersley Ave. | $149,900 | $149,900 | $125,000 | 83% | 83% | 9 | 9 |
222 Alden Dr. | $225,000 | $225,000 | $217,365 | 96% | 96% | 26 | 26 |
225 S. Owen Dr. | $250,000 | $250,000 | $260,000 | 104% | 104% | 4 | 4 |
224 W. Sunset Ct. | $375,000 | $375,000 | $365,000 | 97% | 97% | 11 | 11 |
Average Total | $249,975 | $249,975 | $241,841 | 95% | 95% | 13 | 12.5 |
Address | 1st Price | Last Price | Sold Price | SP/FP | SP/LP | Cum. Days of Market | # Days From Last Price Change Until Offer |
563 Toepher Ave. | $259,900 | $259,900 | $259,900 | 100% | 100% | 5 | 5 |
536 S. Owen Dr. | $255,000 | $255,000 | $260,000 | 103% | 103% | 6 | 6 |
Average Total | $257,450 | $257,450 | $259,950 | 102% | 102% | 6 | 5.5 |
Address | 1st Price | Last Price | Sold Price | SP/FP | SP/LP | Cum. Days of Market | # Days From Last Price Change Until Offer |
2322 Keyes Ave. | $224,900 | $204,900 | $205,000 | 91% | 100% | 117 | 66 |
2103 Keyes Ave. | $345,000 | $345,000 | $345,000 | 100% | 100% | 0 | 0 |
2237 Rowley Ave. | $429,900 | $429,900 | $434,900 | 101% | 101% | 6 | 6 |
Average Total | $284,950 | $274,950 | $275,000 | 96% | 100% | 59 | 33 |
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