Lake Sinclair October 2015 market report- looking up

It feels like our summer season lasted a bit longer than usual this year. We had a wonderful month of closings right through October. With that said I'll get to the best news first. 

 

 

We had 32 residential closings on Lake Sinclair in October.  Sales prices ranged from $75,000 to $545,000 with an average of $117/ sq. ft.  At the current rate of absorption we only have an 8 month supply. We have not been that close to a stable market in 6 years. Hopefully it will continue to move in that direction. 

 

 

In the price department we're moving in the right direction.  It's a very slow pace, but at least prices are going up.  Of course if you are a buyer what this means is that you will want to buy soon, before prices and/or interest rates move too much. The average sales price for a Lake Sinclair residential property was $222,878 for October.  Up more than $4,000. and $15.00/ sq. ft.

 

 

The days on the market were down.  A stable market is about an average of 90 days on the market. The residential sales in October that closed had an average of 146 days on the market. As you tell from the chart that is way down from highs over the last few years. That's the 3rd lowest average we've had all year.  Hopefully this too will continue to move in the right direction.

 

The good news for year to date is the number sold.  

2104- 170 residential Lake Sinclair home sales January to December.

2015- 220 residential Lake Sinclair home sales from January to October.

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Comment balloon 9 commentsTammy Lankford, • November 17 2015 07:47PM

Comments

Tammy Lankford  Nice market report on Lake Sinclair

Posted by Hannah Williams, Expertise NE Philadelphia & Bucks 215-953-8818 (Re/Max Eastern inc.) over 1 year ago

Hi Tammy you have done a fine job on your Lake Sinclair October 2015 market report. Excellent data that is presented well.

Posted by Noah Seidenberg, Chicagoland and Suburbs (800) 858-7917 (Coldwell Banker) over 1 year ago

Tammy close to stable market is a good sign, take advantage of it while you can, Endre

Posted by Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002 (Berkshire Hathaway HomeServices) over 1 year ago

Good morning Tammy. With you on the job, the market will continue to stabilize! Enjoy the journey!

Posted by Wayne Martin, Real Estate Broker (Wayne M Martin) over 1 year ago

Home buyers and sellers in the area will appreciate this information.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 1 year ago

What a great market you are having this year. It has to feel good.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional) over 1 year ago

Thank you for sharing this insightful real estate market report! This is great information for buyers and sellers alike!

Posted by Jim Crawford, Jim Crawford Atlanta Best Listing Agents & REALTOR (RE/MAX Paramount Properties) over 1 year ago

Looks like the market is going strong in your area.  Great News!

Posted by Belinda Spillman, Colorado Living! (Aspen Lane Real Estate Colorful Colorado) over 1 year ago

Hi Tammy Lankford ,  That is good news!  Everything has been down for so long that it is a welcome relief to see an upwrd trend.

Posted by Larry Johnston, Broker,Friends & Neighbors Real Estate, Elkhart,IN (Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC) over 1 year ago

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