The
market picked up for the second quarter as the spring/summer season is in full
swing. There were 28 sales in the second
quarter, up from the previous quarter(21) and same as one year ago(28). The
average sales price($282,759) is up considerably from last quarter($262,123)
and from one year ago($257,805). Average
Days on the market(18) decreased significantly as spring/summer market heated
up.
The
supply/inventory and demand is more in balance as more homes have come on the
market. However, the summer selling
season is still going strong in College-Glen (College Greens / Glenbrook).
A few recent homes have gone into escrow in a short period of time, some
with multiple offers. For the homes that
are priced right and show well, the sellers are having good success. The
overpriced listings are sitting on the market without a buyer. I expect the
third quarter to look very similar to the second quarter.
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