Jeremy Jenks: Hey, guys. Jeremy Jenks, Vice President of Sales here with the Trembley Group, and we’ve got a market update on closed sales. This is our third and final market update for the Barefoot Resort area. I’ve got some numbers to go over with you, so as always, we do new construction separate from previously owned, as you know from my other videos.
The most recent numbers that we have currently are the July, so we’ll go back three years. You can see new construction closed sales 2015, there was one sale that closed, 2016 four closed, and 2017, two closed, so very low numbers in the Barefoot area, and currently there’s not a lot of new neighborhoods that are going on up in the Barefoot Resort area, so new construction’s not a huge part of the market like it is in other areas, such as Market Common or Prince Creek.
Previously owned homes, we’ve got zero in July of 2015, three in July of 2016, and zero in July of 2017. If you’re just looking at the monthly stats, of course you’re going to have some months with zeros, some with threes, some, you know, but you’re typically … they’re averaging two to three sales a month in that area for previously owned. Remember, we go back a couple videos ago, the number of homes on the market in Barefoot at any given time might only be 15 or 20 homes, so it’s still a healthy market. We’re still running around, let’s say on average about six months of inventory in the Barefoot area, but you do want to pay attention. Let’s say there’s a month, or there’s a quarter where four or five homes are all listed at once and they’re competitive with each other. That’s going to make a difference in a market where there might only be 12, 15, 16 homes on the market at any given time. Three, four homes all be listed at once and they all jump on the market, they’re going to really compete with each other and have to battle a little bit over price.
Again, we look at the velocity because if you’re in a market where 20 homes are selling a month, there’s a little bit more leeway if you price it a couple grand too high, or your home’s not in perfect condition, it’s going to get snapped up in the market, but when there’s only one or two selling, you better be on top of it.
Stay tuned for more recommendations and more markets, and see our blog as well for more information.
For more information: Jeremy Jenks, Vice President of Sales, TheTrembleyGroup.com, 843.638.3002
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