Verrado newly listed homes has slowed over the summer as we currently sit at 67 active Verrado homes for sale (including 6 under contract but accepting back up offers), with 4 short sales and 3 REO lender owned homes.  There are now currently 31 pending homes in Verrado, with now only 11 new construction homes.  Overall, new construction home activity remains brisk, but overall the market has slowed due to the hot summer weather and a recent move up in interest rates. However, Axia Home Loans is currently offering a lock and shop program that will allow home buyers to lock their rate for up to six months.
Now when shifting over to sold homes in Verrado, we find a total of 67 homes sold over the last 90 days, down 23 closings from the last report. The average closed price of these homes was $283,612, which was 99% of the asking price and 59 agent days on market. This price was close to a $10,000 increase since the last report, but does encompass all price points. Of this 46 were Verrado real estate resales and 21 were new construction homes, a nice balance between new construction and resales.
When looking at only resale Verrado homes, the average price was $281,722 (98% of asking price), with an average size of 2628 sq ft; resulting in an average of $107.79 and an average days on market of 69 days. The average size increased a little, and the average price per square foot softened just slightly. The selling price at 2% below asking would indicate that Verrado home sellers are starting to push the price up, but not so much that buyers are not willing to make offers. Overall this a good sign for the Verrado real estate market as we head into the fall.
Information from ARMLS as of 9/19/2013
Posted by The Cascade Team Real Estate on
Leave A Comment