6/22/2015 - 6/28/2015
Prices cooled off a bit this week, as the average sales price dropped over $50,000 from the week prior. Sales to list price ratio dropped off 5% as well. Price per Square footage numbers remained high however, thanks in part to the closing of my two sales on Oak Ridge Drive, each of which went for just over $1,000/SF. My listing at 605 Oak Ridge Drive, a 3 bed/2 bath 1,270 SF home, sold for $1,275,000 ($1,004/SF). Right across the street at 602 Oak Ridge, my 2 bed/1 bath 820 S/F listing closed for $830,000 ($1,012/SF). The average DOM for listings that closed this past week was 29 days - up 15 from the week prior. Don't let that statistic scare you though, as it was skewed by two listings that had been on the market for over 115 days before they finally closed. If you took those two out of the equation, the average DOM for the remaining closed sales would be 13, which is actually an improvement from the week prior.
As always, give me a call if you have any questions about market data, or if you would like to see market reports for another city.