Real estate market update for the Longpoint Subdivision.
CLICK HERE FOR A LIST OF HOMES FOR SALE IN LONGPOINT
Hello everyone!
These are some market statistics for Longpoint. The information is for the rolling 3 months prior to today. Very interesting! I have given my "take" on what it all means at the end of the post. Please let me know if you have any questions. Have a great day.
-joseph
Average Sales price for all homes:
Average Price trends for homes under $500,000:
Number of homes for sale:
Number of homes sold:
Average days on the market for ALL homes:
Average days on the market for homes under $500,000:
So what does this mean? Well, as you can tell, prices are increasing at a pretty substantial (some may say alarming) rate for ALL the homes in the market. What is interesting is that right now you would think the time it takes for homes to sell (days on the market) would be very low and decreasing. On the contrary, it is still taking a month and a half to get a contract and that number has stabilized and even gone up a bit. This is an indication that the buyers are still being very picky and not just buying anything that goes on the market. So homes that go up for sale need to be putting a lot of legwork into their marketing.
Please let me know if you have any questions or need anything from us!
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