|October prices highest in 2016, top dollar since 2007 bubble|
The October median sale price is $445,000, the highest median going back to the bubble. Since 1989, 27 years, Arrowhead Woods now has the highest median sale price – excluding the 3 year bubble. We are winding up the fourth year of rising prices. Fall is beautiful on the mountain, leaf colors change, cool nights, Thanksgiving and Christmas bringing cheer… and lots of home shoppers. Arrowhead Woods has sold 36 homes in a time when sales have often slowed. It’s a hot market! If you are hesitant or have been under water, call me for a current market value.
The challenge ahead is inventory, too few homes on the market. Arrowhead Woods has 284 homes for sale today. I compared listings for ten years before the bubble which had an average inventory of 480 homes. In the last ten years of recovery, after the bubble, the average listing count is 342 homes for sale, down 28%. We are now 58 listings below the recent 10 year average. The market is favorable to sellers, but disappointing to buyers who want more homes.
2016, OCTOBER, HAS HIGHEST MEDIAN PRICE SINCE 2007. THE UPTURN CONTINUES!
October 2016 36 Homes Sold, Median Price $445,000 (NEW; Sold Price per Sq Ft)