2011 Single Family Info through June

There is only one sale to report for the month of June.  3314 Glacier Ridge Rd closed for $479,000.  After accounting for a sale in April newly added to the MLS (was a FSBO) that puts the total for the year at 9 sales.  The one sale in June is far off last year’s 6 and now also puts the total through June of last well ahead of 2011.  However, considering that one home has since sold, one is pending, and there are currently 2 accepted offers, this year is not too far off from last year after all.  In fact, with 5 current listings outside of those just mentioned and the pace at which some have recently received offers/sold, this year’s total may beat the 20 sales from last year.

Not only are homes starting to sell more quickly in the neighborhood, they are also getting over 100% of their assessed value.  The average sale so far this year received 101.4% of the assessed value, up over 2% from 99.2% last year.  This is nowhere near the exuberance buyers showed when they were paying 125% at the peak of the market in 2007, but this, coupled with the quick offers of late, may mean a shift has already started away from a buyer’s market.

2011 Single Family
Sales through June
	Address	First Price	Last Price	Sold Price	SP/FP	SP/LP	Cum. Days on Market	# Days From Last Price Change Until Offer
	3322 Glacier Ridge Rd	445,000	389,000	380,000	85%	98%	289	57
	6740 Aldo Leopold Way	424,900	424,900	390,000	92%	92%	123	NA
	6929 Ramsey Rd	475,000	425,000	413,000	87%	97%	191	16
	6725 Gaylord Nelson Rd	515,000	499,875	475,000	92%	95%	169	98
	6809 Erdman Blvd	574,000	559,000	520,000	91%	93%	78	16
	3310 Prairie Glade Rd	575,000	550,000	555,000	97%	101%	123	114
	6963 Apprentice Pl	429,900	375,000	370,000	86%	99%	332	82
	3314 Glacier Ridge Rd	545,000	495,000	479,000	88%	97%	223	59
	*6828 Erdman Blvd	NA	NA	650,000	NA	NA	NA	NA
	Average Total	$497,975	$464,722	$470,222	90%	96%	191	63
	*FSBO-info missing from MLS

New Listing

Add 6996 Harmony Way to the list of new homes on the market.  It is 3 bedrooms, 2&1/2 bathrooms, and 2393 sq ft.  The asking price is $465,000.

2 New Listings

In about the last week there have been two new listings.  The first is located at 6813 Phil Lewis Way.  It has 2 Bedrooms and 2&1/2 Baths and is listed for $380,000.  The second is at 6805 Aldo Leopold Way.  This one has 3 Bedrooms and 3&1/2 Baths and is listed for $459,900.  One listing has also been withdrawn this week.  3728 Pheasant Branch Rd is no longer on the market.

Accepted Offer at 6920 Frank Lloyd Wright Ave.

There has been an accepted offer on the newly listed home at 6920 Frank Lloyd Wright Ave.  That is two homes recently put on the market that received and accepted offers within a week from when they were listed. 

Single Family May Sales

While there is only one sale to report for the month of May there has been a recent flurry of activity in the neighborhood.  Last month saw 6963 Apprentice Pl receive an offer and close shortly thereafter with a selling price of $370,000.  There was also an accepted offer at 6912 Ramsey Rd and a new listing at 6756 Ramsey Rd that had an accepted offer within 5 days and is now pending.  3314 Glacier Ridge Rd is also still a pending sale.  Lastly, 6916 Frank Lloyd Wright Ave was withdrawn, leaving 4 single family homes for sale (this excludes 6912 Ramsey Rd).

Looking at the stats for this month’s sale; 6963 Apprentice Pl was last listed for $375,000 and received $370,000, 99% of the last asking price.  There were 82 days between the last price change and the accepted offer.  However, it was on the market for a cumulative 332 days and went through several price reductions.  Initially it was put on the market for $429,900, which means it got only 86% of the first price. 

The one sale in May was down from 2 last year and so far there have been 8 sales which is on pace with last year’s 9.  Will the recent pickup in activity carry into June?  It should be interesting to see what happens with the properties that have been on the market longer as we continue into the summer.    

Current Listings

Address	Price	First Price	CDOM	Price/Fin Sq Ft.
6960 Apprentice Pl	$364,900	$380,000	313	$170.67
6920 Frank Lloyd Wright	$400,000	$400,000	6	$150.21
3728 Pheasant Branch	$542,000	$699,000	487	$152.76
3722 Pheasant Branch	$629,900	$735,000	480	$146.76
6912 Ramsey Rd*	$750,000	$750,000	108	$177.01
	AVG	AVG	AVG	AVG
	$537,360	$592,800	279	$159
*has an accepted offer