Lake Arbor Market Update: It’s still a Seller’s Market!

February 15, 2017
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# of Closed Sales: 4

Average Days on Market for Solds: 18

Median Sales Price: $358000

# of news listings: 1

Months of Inventory Last Month: 1

 

For the start of the new year, Lake Arbor had 4 total home sales and 3 townhome/condo sales in January, 2017. The median sale price for homes was $358,000 with a high of $385,000, whereas the townhome/condo sector had a median sales price of $208,000 and a high of $213,000. A month prior in December, 2016 we saw a few more sales with a total of 7 home sales and a total of 5 townhome/condo sales. The average days on the market went from 42 days in December down to 18 days this January. This may be in large part due to the lack of inventory of homes currently in the Lake Arbor market. When comparing the sales from January of last year to this year, it was not a surprise to see the jump in the median sales price from $312,600 (Jan. 2016) to $358,000 (Jan. 2017). I would predict that our market is not slowing down anytime soon and the median price will continue to rise through the spring and summer months making it still a great time to sell.