Historically this is the time of the year that home sales start to see a slight drop. The summer is over and families tried to find a house and move while the children were out of school. As I approach the fall season I am pleased with the record low interest rates. In doing some research, I found that NEVER before have rates been this low for a mortgage.
Brightmoor Subdivsion is a large community in Matthews, NC. It has the tree lined streets, 2 community pools, playground and walking trail. It is conviently located to major highways and shopping. Below is an analysis of the current market conditions and the trends ov er the past three years. In an ideal situation we would have six months of inventory on the market. That is considered a balanced market. More homes than that supply favors a buyer. Less homes favor a seller.
3 years ago there were 18 homes that sold for an average sale price of $233,379. They were on the market for an average of 38 days.
2 years ago there were 18 homes that sold for an average sale price of $211,181. They were on the market for an average of 39 days.
Last year there were 10 homes that sold for an average sale price of $194,400. they were on the market for an average of 91 days.
Currently there are 12 homes active on the market in Brightmoor right now. There are an additional 2 homes that are under contract but have not closed yet. Based on the last 3 years there is a little less than a year supply of homes on the market currently.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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