Hello friends and neighbors of West Highlands- The activity for November remained strong in the neighborhood. I predict a strong 4th quarter and one that may buck the trend of the traditional “seasonal slow down.” I am working with and hearing from buyers who want to look in the “off-season” to avoid a more competitive spring buyers’ market. This is is a good sign for sellers wanting to list now. This less competitive market idea can also work for sellers; there is typically less inventory now, which will make your property as a seller stand out.
Now let’s look at the numbers:
Active: Currently we have 41 active properties on the market in West Highlands. With a high list price of $1,195,000 to a low of $240,00 and a median of $565,000. The average price per square foot above grade is $356. The “total” price per square foot (this includes basement square footage) is $268.
Under Contract: Currently there are 18 under contract properties on the market. With a high price point of $765k and a low price of $160,000.
Sold: There were 21 sold transactions in November. The high sold price was $765,000 and the low sold price was $185,000. The average sold price per square foot above grade was $356 and the average “total” price per square foot was $255. Average DOM Days On Market was 48. Average sold list price was $515,856. The average sold price was 97% of list price.
In summary don’t be hesitant to list your home in the winter months. This could be a good opportunity to stand out in a low inventory market.