There were 7 residential properties for sale in Lords Point listed by local real estate agents as of August 1st which was one less than the 8 homes listed for sale in Lords Point on July 1st. 6 of the homes listed on August 1st were also listed on July 1st, and one new listing was added in July.
The average listing price for these homes was a little under $520,000 with prices in the range $365,000 to $698,000 and $449,000 was the median price. The average size of these homes was 1825 square feet with 3 bedrooms and 1.7 full bathrooms; 2 of these 7 homes have at least one half bath.
The chart below provide some additional detail about the how the # of bedrooms and range of living area sizes affects the list price.
There was 1 residential property under deposit as of August 1st which pretty much matched the profile for the average home described above in size but had been listed at $615,000; this home was “Active on the Market” for 70 days.
There were closing transactions for 25 homes between January of 2011 and July of 2016 with the last closing occurring in February of 2016. The chart below breaks down the number of homes sold within each year (noting that we’re only 7 months into 2016 at the time of this writing).
We’ll continue to watch the residential property market and bring you additional observations and data in future blogs.
The trends reported above were based on data obtained from the CTMLS as of August 1st 2016 for single family residential properties. Updated information will be posted on our Lords Point Real Estate Page. If you are considering purchasing a home with in Lords Point or if you would like to work with a Realtor in the area, please feel free to call us. We look forward to helping you find just the right home for you.