The real estate brokers at Windermere Sun Valley are often asked about current market conditions by friends and strangers alike. What these people are really saying is “what’s selling?” With our busy summer season beginning to wind down, we decided to look at the MLS statistics to answer that question. In the past 60 days, 62 single family homes and 28 condos have gone under contract. These buyers are now arranging their financing, obtaining appraisals and conducting their due diligence.
In the single family category, three of the pending sales had list prices between $2 to $3 million, five homes were priced between $1 to $2 million and six between $500K and $1 million. The busiest segment of this summer’s real estate activity was clearly the entry level market where 35 homes under $250,000 went under contract.
We saw a similar trend in the condo and townhome market, with 22 of the 28 units having list prices below $500K. In fact, 14 of those pending sales were for less than $200,000, with value shoppers taking advantage of ample inventory and low interest rates. Just six of the pending condo sales were priced between $500,000 to $1 million.
If you would like to receive an e-mail each month detailing Windermere’s current Market Snapshot, we would be happy to provide it. Just e-mail your request to sunvalley@windermere.com and we will add you to our list.