How is the market doing in River Chase Subdivision? A professional overview:
This data chart represents market data for River Chase subdivision from September 30, 2009 to September 30, 2010. Over the past 12 months, we have seen a slow moving buyers market with an average of 2.5 homes selling per month. As we move past the 3rd quarter of 2010, the average sold per month has increased to 4.33. Almost HALF of all River Chase homes sold in the last 12 months have taken place between July and September 2010.
The market in River Chase started shifting from a buyers market in late 2009, to a balanced market in Spring 2010, and then appearing to be a sellers market for Summer 2010. The "Months of Supply on the Market" is a fancy way of stating: at the current rate of sales, it would take "x" amount of months to extinguish all inventory and sell all of the available properties. Though, not all properties will sell - in this market, price, features, location, condition, size, and the financial needs of the seller will determine where a property will contribute to the "months of supply" scale; it may lay outside (+/-) the current parameters.
This is very good news for sellers in River Chase, it means that the market is gaining slight momentum.
Overall, the average price per home on the market has dropped slightly over the past year (approximately 6%), however, this could be due to different types, sizes, and price points of properties becoming available, or sellers adjusting their listing price to fit the needs of the market. With the "number of days" on market, and the "selling to list price" staying consistent over the past year, it is almost certain that sellers have recognized buyers' needs in the area and have adjusted accordingly.
What does this mean to home owners and potential buyers in River Chase?? Now is a good time to sell, if your property is priced within the market guidelines for the current market conditions and comparable competition!
This data chart represents market data for River Chase subdivision from September 30, 2009 to September 30, 2010. Over the past 12 months, we have seen a slow moving buyers market with an average of 2.5 homes selling per month. As we move past the 3rd quarter of 2010, the average sold per month has increased to 4.33. Almost HALF of all River Chase homes sold in the last 12 months have taken place between July and September 2010.
The market in River Chase started shifting from a buyers market in late 2009, to a balanced market in Spring 2010, and then appearing to be a sellers market for Summer 2010. The "Months of Supply on the Market" is a fancy way of stating: at the current rate of sales, it would take "x" amount of months to extinguish all inventory and sell all of the available properties. Though, not all properties will sell - in this market, price, features, location, condition, size, and the financial needs of the seller will determine where a property will contribute to the "months of supply" scale; it may lay outside (+/-) the current parameters.
This is very good news for sellers in River Chase, it means that the market is gaining slight momentum.
Overall, the average price per home on the market has dropped slightly over the past year (approximately 6%), however, this could be due to different types, sizes, and price points of properties becoming available, or sellers adjusting their listing price to fit the needs of the market. With the "number of days" on market, and the "selling to list price" staying consistent over the past year, it is almost certain that sellers have recognized buyers' needs in the area and have adjusted accordingly.
What does this mean to home owners and potential buyers in River Chase?? Now is a good time to sell, if your property is priced within the market guidelines for the current market conditions and comparable competition!
For a free property search, market analysis request, and more information on my business and listings, please visit http://www.valerietolbirt.com/.
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