Right now there are 14 homes on the market in Troutman Park’s neighborhoods. Half of them (7) are currently available which is more than buyers have had to choose from in your area for quite a while.
Every year we notice a seasonal slow down in buyer activity through August & September. Owners don’t necessarily realize this and continue to put their homes up for sale. This creates a short term burst in inventory and results in more days on the market for most properties.
There were 8 homes that sold in August this year for a total of $2,411,900. They ranged from $255,000-$330,000 at an average of $301,487. They lasted just 27 days on the market until closing on average (a couple cash sales reduced the average days on market)!
There were 11 homes that sold the previous month in July for a total of $3,195,100. They ranged from $239,500-$347,000 at an average of $290,463. They lasted 31 days on the market until closing on average!
In August of 2014 there were just 5 sales totalling $1,322,800 in volume. They ranged from 239,000 to $295,000 at an average of $264,560. The average days on market for these properties was 34.
We’ll start noticing buyer activity pick back up toward the end of September as we typically do. The temporary flood of inventory will be absorbed and we’ll be back to the tight supply of inventory that we’ve become accustomed to over the last couple years.
If you’re considering selling before the end of the year Fall can be a good time to put your home on the market. Properties show very nicely with the change of colors!
To close before the holidays and compete with the other homes that are for sale it is important that your home is in good showing condition and priced appropriately. We’re seeing more owners getting greedy and overpricing the market right now and their homes are sitting around with little interest!
*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.