Verrado is currently sit at 70 homes for sale (including 7 under contract but accepting back up offers), with 5 short sales and 3 REO lender owned homes.  There are now currently 28 pending homes in Verrado, with 14 of these new construction homes or presales.  Overall, new construction home activity remains brisk, but the overall market remains slow; possibly due to interest rate hikes and uncertainty around the government shut down.  If you are looking at new construction, Axia Home Loans is currently offering a lock and shop program that will allow you to lock a rate for up to six months.
Now when shifting over to sold homes in Verrado, we are holding at 67 homes sold over the last 90 days, on par 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 $290,624  (98% of asking price), with an average size of 2700 sq ft; resulting in an average of $107.95 and an average days on market of 63 days. The average size increased, with the average price per square foot increasing just slightly. Price per square foot increasing with larger average sized home sales is a great sign. The market appears to be holding onto price gains even though activity still remains slow as we head into fall.
If you are looking to purchase 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 builders. 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, we not only know the area, we want to bring additional value when you choose us as your Verrado Realtor.
Posted by The Cascade Team Real Estate on
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