The Cascade Team Blog

Verrado is currently sitting at 5 active homes for sale, including 2 homes under contract but accepting back up offers.  There are now currently 19 pending homes in Verrado, with 9 of these new construction homes or presale lots.  Overall, pending home sales have slowed and inventory has begun to climb which should bring some balance back into the market.  However, as we approach Thanksgiving week, things could remain slow through the holidays until the first of the year.

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, with 22 of these homes being new construction.  The average closed price of these homes was $296,716 (up almost $12,000 from the last report), which was 98% of the asking price and 64 agent days on market.  Of this 45 were Verrado real estate resales and 22 were new construction homes, a nice balance between new construction and resales.

When looking at only resale Verrado homes, the average price was $286,610  (98% of asking price) roughly flat to the last report.  However, these homes had an average size of 2650 sq ft; resulting in an average of $109.49 (up around $2.00 per square foot) and an average days on market of 72 days on market.  The average size increased, which is showing that prices are still increasing as the price per square foot was static on a home nearly 12% larger.  This is a great sign overall.  Days on market were a little longer which signifies the market spike we normally see in October did not materialize.

If you have a home to sell in Verrado, be sure to contact us.  With our aggressive marketing program and technology platform, we always strive to beat the average days on market.  The value we deliver is second to none, so be sure to call us and compare, even if you're thinking about using another Realtor or brokerage.