Verrado is currently sitting at 65 active homes for sale, including 7 homes accepting back up offers.  There are now currently 32 pending homes in Verrado, with 14 of these new construction homes or presale lots.  Overall, new construction home activity remains consistent, but the overall market has not seen the fall activity bump we normally see once the weather cools down; possibly due to interest rate hikes and the political turmoil over the last number of weeks.  However, if you, or anyone you know, is looking at new construction, Axia Home Loans is currently offering a lock and shop program that will allow you to lock a rate up to six months in advance.
Now when shifting over to sold homes in Verrado, we are still holding at 67 homes sold over the last 90 days, exactly equal with the last report. The average closed price of these homes was $285,986, which was 98% of the asking price and 62 agent days on market.  Of this 48 were Verrado real estate resales and 18 were new construction homes, a nice balance between new construction and resales.
When looking at only resale Verrado homes, the average price was $287,196  (98% of asking price) roughly $3000 below the last repot. These homes had an average size of 2369 sq ft; resulting in an average of $109.63 (up around $2.00 per square foot) and an average days on market of 60 days. The average size decreased, however the average price per square foot jumped nearly 1.8%. The Verrado market appears to be continuing to hold onto price gains as we move through fall.
Again, if you are looking to buy a home in Verrado, especially if you are interested in any new construction, be sure to contact us first. It is very important to have your own representation when working with new home construction. In addition, be sure to ask about our $1195 closing cost credit through Axia Home Loans, along with their new "Lock & Shop" program, which is really valuable when looking at new construction. As local residents of Verrado, we not only know the area, we want to bring additional value when you choose us as your local Verrado Realtors.
Posted by The Cascade Team Real Estate on
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