Pent-up demand drives upswing in Meadow Vista home sales!
I just completed a survey of all Meadow Vista home sales for the past year. In comparison to 2010, the numbers are very encouraging for sellers: 67 homes sold, representing 50% more than 2010!
Other than the total number of sales, most other measurements were pretty boring. The average 2011 home size was 2325 square feet (down 5%) at $154/square foot (down 2%). Total time on market was 106 days in 2011, plunging from 169 days in 2010 . . . a predictable change, given the greater demand.
In Winchester Country Club, seven homes sold in each of the past two years. The typical 2010 Winchester sale was 4321 square feet, $781,000. This represents $183/sq. foot, and required a whopping total of 595 days on market.
In 2011, Winchester values improved: the average sale topped $1 million for a 5121 square-foot home. Price per square foot climbed 10%, to $205/sq. ft., and the average total time on market was “only” 231 days.
Naturally, many sales were bank-owned homes or short sales: to be exact, this “distress-sale” segment represented 44% of all transactions in 2011, but that number went down from 48% in 2010.
What can we predict for the New Year? More action . . . and stable values! 2011’s sales demonstrated a meeting of pent-up buyer demand with an abundant supply of homes. December 2011 was Meadow Vista’s hottest month for the entire year, and we entered January 2012 with a 20% smaller inventory of available homes - - - a teeny 1.8 months of inventory, based on this record-breaking business.
If you’re thinking of selling, it’s time to plan wisely for success. If you’re thinking of buying, in any town, it’s never too early time to start studying the market!
My team and I are eager to help: In 2011, I was privileged to list & sell more Meadow Vista properties than any other Realtor®. How can I help you?