Since these are the communities I am always driving to with clients, I thought it would be interesting to look at how they are stacking up against each other in terms of available homes, pending homes and recently sold homes over the last 12 months. Since the different communities have a variety of different price ranges, I decided to narrow the focus a little.
For this part of the report, I looked at homes priced between $300,000 to $500,000, those currently for sale as well as what has sold over the last 12 months.
In Morton: There are currently 19 for sale, 31 that have sold over the last 12 months and 1 that is currently pending. This equates to an average of 2.58 sales per month and a 7.3 month supply of homes. The definition of supply of homes is how long it will take to sell the currently inventory of homes at the current rate of sales, assuming no new homes are listed.
The following post was from a prior blog entry I had on another post a few months back, so while some of the data numbers may have changed, the comparison overall is pretty much the same.
For this part of the report, I looked at homes priced between $300,000 to $500,000, those currently for sale as well as what has sold over the last 12 months.
In Morton: There are currently 19 for sale, 31 that have sold over the last 12 months and 1 that is currently pending. This equates to an average of 2.58 sales per month and a 7.3 month supply of homes. The definition of supply of homes is how long it will take to sell the currently inventory of homes at the current rate of sales, assuming no new homes are listed.
The following post was from a prior blog entry I had on another post a few months back, so while some of the data numbers may have changed, the comparison overall is pretty much the same.
In Dunlap: There are 76 currently for sale, 95 that have sod over the last 12 months and 13 that are currently pending. This equates to an average of 7.9 sales per month an a 9 month supply of homes.
In Washington: There are currently 19 for sale, 26 that have sold in the last 12 months and 2 that are currently pending. This equates to an average of 2.1 sales per month and a 9 month supply of homes.
In Metamora/Germantown Hills: There are currently 20 for sale, 18 that have sold and 2 that are currently pending. This equates to an average of 1.5 sales per month and a 13 month supply of homes.
The one thing to consider with the numbers above and the supply of homes is the current number of pending homes, since that is an indicator as to how many closings might occur in the next 30-60 days. Metamora and Washington pendings are on par with the average number of closed homes over the last 12 months, while Morton's pendings are lagging behind the average sales, Dunlap's pendings are far exceeding the average number of sales.
In Washington: There are currently 19 for sale, 26 that have sold in the last 12 months and 2 that are currently pending. This equates to an average of 2.1 sales per month and a 9 month supply of homes.
In Metamora/Germantown Hills: There are currently 20 for sale, 18 that have sold and 2 that are currently pending. This equates to an average of 1.5 sales per month and a 13 month supply of homes.
The one thing to consider with the numbers above and the supply of homes is the current number of pending homes, since that is an indicator as to how many closings might occur in the next 30-60 days. Metamora and Washington pendings are on par with the average number of closed homes over the last 12 months, while Morton's pendings are lagging behind the average sales, Dunlap's pendings are far exceeding the average number of sales.
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