There were 3 homes listed for sale in Lords Point by local real estate agents as of November 1st; these homes were also actively listed 3 months ago on August 1st. No homes were listed as “under deposit” on November 1st and no new listings were added in October.
These 3 homes were all in a narrow range of listing price between $680,000 and $700,000. The living areas were between 1575 and 3750 square feet. There were either 3 or 4 bedrooms in each of these homes, and either 1 or 3 full bathrooms; and 1 of the three had 2 half-bathrooms.
There were 4 closings so far in 2016 for homes in Lords Point: 1 in February, 1 in July and 2 in August. The closing prices for these homes were between $495,000 and $775,000 with the average close to $600,000. These homes had either 3 or 4 bedrooms, and either 2 or 3 full bathrooms; 1 of the 4 had one half-bathroom. The listings for these homes were active on the market for between 20 and 494 days.
For comparison, there were closing transactions for 6 homes in Lords Point in 2015. The closings prices ranged from almost $150,000 to a little over $1,000,000 with a little under $465,000 as the average closing price. These homes had between 2 and 4 bedrooms, and between 1 and 3 full bathrooms; and 3 of the 6 had at least one half-bathroom. And the listings for these homes were active on the market for between 49 and 743 days with the average being 271 days and the median 199 days.
Looking over the longer term, the two charts below provide some additional data on attributes of homes in Lords Point which have sold per year since the start of 2011, noting that we only have 10 months of data for 2016.
Finally, the lines in the chart below show a 12-month quarterly “rolling average” and a 12-month quarterly “rolling median” for closing prices in the 5 years between the 4th quarter of 2011 and the 3rd quarter of 2016.
The bars in the background in the chart above show the # of homes for which there was a closing transaction in Lords Point in each quarter.
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 November 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.