This year saw interest rates drop to subterranean levels of below 4% and inventory of homes for sale fall 25% below 2010 levels.
19 homes sold this year, 10 of which were "distressed" - either bank-owned or short sales. The average sales price of the "traditional" sales was $191,604 while the distressed sales average sales price was $138,759.
The real estate market is predicted to improve slightly in 2012. Everyone is keeping their eye on foreclosures. With shadow inventory (loans 90+ days delinquent) remaining essentially constant, any small increase in the numbers of these homes entering the market as bank-owned homes could drive the market and market values lower rather than the increase in values that we all hope for.
Highway 610 added considerable convenience to getting places from the neighborhood and so far doesn't seem to have considerably raised background noise levels. The park reserve playground re-opened and the single track mountain bike trails are open while the nature center was torn down and is being re-built currently. The park reserve and access to this fabulous recreation area remains as a strong value-adder for our neighborhood and will continue to set us apart from other homes.
Traditional Home Sales
Key: Green dots represent homes that are for sale, yellow homes that have sold but not yet closed, red are homes that have sold and closed and black are homes that failed to sell.
Click here for a detailed look at this year's traditional sales (links will expire in February 2012)
Distressed Home Sales
Click here for a detailed look at this year's distressed sales
