Saturday, October 3, 2015

Weekly Update 9/26/2015-10/2/2015

As of today, there are 24 active listings in MLS, 0 homes coming soon and 12 homes which went under contract in the past 30 days. This gives us a current absorption rate of 2.0 lower than last week's rate 2.5The number of distressed sales out of the total actives and the breakdown is as follows:
Disclosed Potential Short Sale Condos: 1
Disclosed Potential Short Sale Town Homes:  0
Disclosed Potential Short Sale Detached Homes:1
Percent of Short Sales: 8.3%
Bank Owned Condos: 0
Bank Owned Town Homes: 0
Bank Owned Detached Homes: 1
Percent of Bank Owned: 4.2%
Foreclosed Condos:  0
Foreclosed Town Homes:  0
Foreclosed Detached Homes: 0
Total Foreclosed: 0
Percent of Foreclosed: 0%
Percent of Total Distressed Sales: 12.5%
Contact me if you would like additional information on any of these Stone Ridge Homes for Sale
According to MLS there were 3 homes new to mls for the week of 9/26/2015 - 10/2/2015. 2 more than the previous week.
24640 ROSEBAY TER, LP$269,900  DOMM/DOMP: 2/2   
Town Homes:
41927 POSSUMHAW TER, LP$329,900  DOMM/DOMP: 2/2 
24672 NETTLE MILL SQ, LP$429,900  DOMM/DOMP: 6/6




According to MLS, there were 4 homes which went under contract during this period 3 more than the previous week.
Town Homes:
24616 NETTLE MILL SQ,, Status: CNTG/NO KO  LP:  $414,900   DOMM/DOMP: 17/17
24645 KINGS CANYON SQ, Status: CNTG/NO KO  LP:  $415,000   DOMM/DOMP: 13/13
25069 GREEN MOUNTAIN TER, Status: CNTG/NO KO  LP:  $436,999   DOMM/DOMP: 61/61

Detached Homes:
42070 FIDDLEHEAD PL, Status: CNTG/NO KO  LP:  $629,999   DOMM/DOMP: 4/4
This is the same amount of distressed sales going to under contract status this past than in the previous week. The average days on the market for the 4 homes is 24 days or about .8 months lower than the current absorption rate for Stone Ridge of 2.0 mentioned in the introduction.
According to MLS there were  4 homes sold and went to record for the week of  9/26/2015 - 10/2/2015. Sometimes closings get delayed or the listing agent forgets to update the status in a timely matter.
Address, List Price, Sold Price - Seller Subsidy = Net Sold Price, % of asking price, DOMM/DOMP
41988 BLUE FLAG TER,, $289,900, $288,000 - $11,520 = $276,480,  96%41/41 
Town Homes:
Address, List Price, Sold Price - Seller Subsidy = Net Sold Price, % of asking price, DOMM/DOMP

25192 QUARTZITE TER, $310,000, $310,000 - $8,000 = $302,000,  97.4%2/2
24633 KINGS CANYON SQ, $370,000, $356,800 - $0 = $356,800,  96.4%6/6 (short sale)
24653 CLOCK TOWER SQ, $415,000, $415,000 - $10,000 = $405,000,  97.6%18/18

Detached Homes:
Address, List Price, Sold Price - Seller Subsidy = Net Sold Price, % of asking price, DOMM/DOMP


Average Net %: 96.9%
Average DOMM / DOMP: 17/17

The current inventory level for Stone Ridge decreased to 24 active listings. There were 3 new listings, 4 homes receiving contracts and 4 homes reported sold last week. 
Disclaimer: Information is deemed reliable but not guaranteed. MLS data was used which means For Sale By Owner information may have not been included. All homes entered as comps (e.g. new construction) were removed as well. MLS data is subject to human errors such as agents entering wrong values. This is not an appraisal but purely for informative purposes only. If you spot an error, please email me