A nice large subdivision located just southeast of the center of Matthews. Brightmoor offers families looking for space an affordable place to live in Matthews. With a community pool and playground and it's picturesque tree lined streets it is considered a well established family neighborhood. Homes here were built in the late 1980's to the early 1990's. With an average of 4 bedrooms and 2 and half baths and over 2000 square feet of living space makes this a great location for large families.
Three years ago 34 homes sold in this community with an average sale price of $225,950. They lasted an average of 63 days on the market.
Two years ago there was 15 homes that sold with an average sale price of $221,303. They averaged 67 days on the market.
Last year, there was 16 that sold with an average sale price of $195,400. The days it took to sell increased to 78 days.
There is currently 10 homes on the market right now with an average asking price of $224,420. They have been on the market for an average of 85 days right now.
Dave diCecco
Realtor/Broker
ww.davedicecco.com
Saturday, May 8, 2010
Thursday, May 6, 2010
Crestdale Crossing Matthews North Carolina Market Trends
The tax credit has helped see home prices stabilize over the past few months. Crestdale Crossing in Matthews North Carolina is one area that has seen home prices remain stable over the past few years.
Three years ago there were 18 homes that sold. With an average square feet of those homes being 1372. They sold for an average price of $131,088 while being on the market for an average of 70 days. That was when the real estate market was at it's peak.
Two years ago there were 7 homes that sold. The average square feet of those homes was 1285. The average sale price was $126,557 and they averaged only 35 days on the market.
Last year there were 4 homes that sold. The average square feet was 1460 with an average sale price of $128,235. They were on the market on average for 115 days.
What makes the numbers so intriguing is that during the worst part of the downturn of home prices the average home price actually increased. In addition two years ago four of the seven homes that sold were bank foreclosures that were sold as is. Meaning the bank was doing no repairs to the home. Last year only one was a bank foreclosure.
With it's prime location in Matthews and access to some of the best schools and easy access to major highways ; Crestdale Crossing in Matthews North Carolina has been one of the few pockets that has seen home values increase over last year and remain stable over the past three years.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Three years ago there were 18 homes that sold. With an average square feet of those homes being 1372. They sold for an average price of $131,088 while being on the market for an average of 70 days. That was when the real estate market was at it's peak.
Two years ago there were 7 homes that sold. The average square feet of those homes was 1285. The average sale price was $126,557 and they averaged only 35 days on the market.
Last year there were 4 homes that sold. The average square feet was 1460 with an average sale price of $128,235. They were on the market on average for 115 days.
What makes the numbers so intriguing is that during the worst part of the downturn of home prices the average home price actually increased. In addition two years ago four of the seven homes that sold were bank foreclosures that were sold as is. Meaning the bank was doing no repairs to the home. Last year only one was a bank foreclosure.
With it's prime location in Matthews and access to some of the best schools and easy access to major highways ; Crestdale Crossing in Matthews North Carolina has been one of the few pockets that has seen home values increase over last year and remain stable over the past three years.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Wednesday, May 5, 2010
Charlotte 2nd On Places to Buy Versus Rent
The other day I was sitting in a starbucks and came across a Forbes magazine. On the cover was a mention to the top ten cities where you are better off buying than renting right now. The magazine issue came out in the end of January. Number 2 on the list of places was Charlotte North Carolina area.
Renting versus buying is never an easy decision. In this market that decision has been even more complex. Do you wait and see if home prices tumble some more? Or do you buy now with rates at the lowest they have been since the 1940's? There are a lot of people out there wondering if they should or should wait.
One factor to take into account is the cost of home ownership versus the cost of renting. Interest rates right now are holding steady at the lowest levels they have been since the 1940's. That coupled with the housing prices dropping significantly over the past three years; has made the affordability the best it has been. A lot of buyers are finding that they can own a home for around the same amount they are paying now in rent or very close to that amount.
Forbes in their study found this to be accurate. Over the last fifteen years this is the smallest margin between owning a home and renting. The numbers are based on an average rent for the Charlotte area versus the average sale price with median interest rates.
Another factor they had to take into account was the projection of home prices over the next five years... Now, when this article was written they were projecting home prices to increase an average of 12.55% over the next five years. Based on the last couple of months it looks like home prices have stabilized and are slowly increasing.
This data supports the notion that the time to buy may be now...Charlotte is one of the few areas in the country that home prices are expected to see double digit price increases over the next five years. A lot has to do with the growth of new business moving in to Charlotte as well as the diversity of the economic nature of the area.
Considering moving to Charlotte or buying...... now may be the time.
Dave diCecco
Realtor/Broker
www.davedicecco.com
Renting versus buying is never an easy decision. In this market that decision has been even more complex. Do you wait and see if home prices tumble some more? Or do you buy now with rates at the lowest they have been since the 1940's? There are a lot of people out there wondering if they should or should wait.
One factor to take into account is the cost of home ownership versus the cost of renting. Interest rates right now are holding steady at the lowest levels they have been since the 1940's. That coupled with the housing prices dropping significantly over the past three years; has made the affordability the best it has been. A lot of buyers are finding that they can own a home for around the same amount they are paying now in rent or very close to that amount.
Forbes in their study found this to be accurate. Over the last fifteen years this is the smallest margin between owning a home and renting. The numbers are based on an average rent for the Charlotte area versus the average sale price with median interest rates.
Another factor they had to take into account was the projection of home prices over the next five years... Now, when this article was written they were projecting home prices to increase an average of 12.55% over the next five years. Based on the last couple of months it looks like home prices have stabilized and are slowly increasing.
This data supports the notion that the time to buy may be now...Charlotte is one of the few areas in the country that home prices are expected to see double digit price increases over the next five years. A lot has to do with the growth of new business moving in to Charlotte as well as the diversity of the economic nature of the area.
Considering moving to Charlotte or buying...... now may be the time.
Dave diCecco
Realtor/Broker
www.davedicecco.com
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