POWER RANCH OCTOBER HOME SALES REPORT

POWER RANCH OCTOBER HOME SALES REPORT

POWER RANCH OCTOBER HOME SALES REPORT

Author – Melanie Nemetz

NEW LISTINGS IN OCTOBER:

  • šNew listings                             18
  • šAverage List Price                  $295K
  • šAverage Sq ft                           2,343
  • šAverage List Price/Sq ft        125

OCTOBER CLOSINGS:

  • šOctober Closings                    28
  • šAverage Sale Price                 $228K
  • šAverage Sq ft                          1,934
  • šAverage Price/Sq ft               119
  • šAverage Days on Market     79                                   

SEPTEMBER to OCTOBER COMPARISON:

Power Ranch saw a dip in new listings in the month of October, from 33 new listings in September to 18 new listings in October.  This decrease in new activity is normal and is typically seasonal as we approach the holidays.  The average list price went up from $282,000 in September to $295,000 in October.  Interestingly, the average sale price dropped from $249,000 in September to $228,000 in October.   Less square footage seems to have been the sale trend for October as the average square foot in listings was 2,343 while the average square foot in October sales was 1,934.   List price per square foot went up slightly to $125/sq ft while the average SOLD price per square foot was $119.  Average Days on Market jumped from 65 days in September to 79 days in October.

WHAT DOES ALL THIS MEAN TO YOU?

The drop in listings is normal going into the holidays.  Less people are willing to go through the “preparation and showing” process during the holidays.  So in my opinion, this is a reflection of the calendar month more than anything.  What I find particularly interesting is the ratio of new listings-to-solds from September to October:  September’s ratio was 33 new listings/36 solds while October’s ratio was 18 new listings/28 solds.  While the volume of activity was higher in September, there were substantially more solds in October than there were new listings.  This tells me that September was a strong month for homes going under contract compared to new activity in October.

WHAT TO EXPECT

Oh, if I only knew!  Experience tells me Power Ranch will continue on the trend of being light on new listings during the holidays. There is still inventory to clear out so we will still see homes closed, but my guess is the number will remain the same or decrease.

WHAT SHOULD YOU DO IF YOU WANT TO LIST YOUR HOME?

List it, with me of course!  Seriously though, if your home shows well AND is priced right it will sell no matter the market or the season.  We have a current listing in Power Ranch that we got under contract in 9 days!  If you are thinking about selling your home, contact me and we can guide you through preparing your home for sale.  Call me today at (480) 221-3034.

Our Power Ranch listing "Under Contract in 9 days"

Our Power Ranch listing “Under Contract in 9 days”

As always, if you or someone you know, are buying or selling a home, call Melanie Nemetz at (480) 221-3034 “Fostering Relationships – Helping a child into a home with a donation from each closing”

Leave a Reply

Your email address will not be published. Required fields are marked *