Market conditions are something we always discuss. It factors into what a home can sell for and what the market is bearing at the time. Brightmoor in Matthews is a large subdivision centrally located and convient to major shopping, highways and schools.
Every month we talk about how the market has changed from three years ago, two years ago, and presently. The variable that keeps going up seems to be the lenght of time it is taking to sell a home.
Three years ago 27 homes sold for an average price of $227,259. They lasted on the market for an average of 58 days.
Two years ago 13 homes sold for an average price of $227,273. They lasted on the market for an average of 76 days.
Last year 16 sold for an average price of $195,400. They were on the market for an average of 98 days.
Currently there are 13 active lsitigns in Brightmoor. The average price is $223,205 and they have been marketed for 65 days on average. Based on last 2 years of sale numbers there is a one year supply of homes on the market presently. In an ideal housing market that favors neither the seller or the buyer a six month inventory is considered a balance.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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