Right now there are 11 active listings in Troutman Park. Of those 8 are under contract leaving 3 that are still available.
The homes that have gone under contract are taking a little longer (1-2 weeks) than they were in previous months (most were 3-7 days).
This is the time of year that we go through our temporary seasonal breather while leases are renewed and parents get children ready for back to school. Expect the activity to pick up again in September. In the meantime buyers will notice a little more inventory with less competition which will be welcomed by those still actively looking.
Comparing the last 3 months sold properties in Troutman Park’s neighborhoods:
July 11 homes sold for a total of $3,195,100 at an average of $290,463
June 4 homes sold for a total of $1,237,000 at an average of $309,250
May 10 homes sold for a total of $2,899,950 at an average of $289,995
June was certainly the anomaly with only 4 homes sold but at an average price of $19,000-$20,000 higher than the months of May & July.
Looking at the number of days on market for the properties under contract & still available right now I would expect 3-4 of those to close in August. I believe the month of September will realize another 8-10 sold homes and we’ll see the bounce back effect that was noticed with June/July.
Homeowners that are considering selling in the near future will probably want to take the next month or so to prepare their home so it’s ready for the pick up in activity that we’ll notice in the Fall. This would be a smart way to maximize proceeds by insuring that you’re in the optimal showing condition when the demand from buyers starts to increase competition again.
*Not all properties were listed and/or sold by 8z Real Estate. This data is based on content supplied by REcolorado, IRES, PPAR, and/or MLSListings. Content is deemed reliable but not guaranteed. Content may not reflect all real estate activity in the market.