Weekly Update 4/23/11 - 4/29/11

INTRODUCTION

As of today, there are 28 active listings in MLS and 14 homes which went under contract in the past 30 days. This gives us a current absorption rate of 2.0, which is lower than last week's rate of 2.7. Of the 28 active listings, 9 are new from the builder, 15 are traditional re sales the remainder are distressed sales which break down as follows:

Disclosed Potential Short Sale Condos: 0
Disclosed Potential Short Sale Town Homes: 0
Disclosed Potential Short Sale Detached Homes: 3
Disclosed Potential Short Sales: 3
Percent of Short Sales: 10.7%

Bank Owned Condos: 0
Bank Owned Town Homes: 1
Bank Owned Detached Homes: 0
Total Bank Owned: 1
Percent of Bank Owned: 3.6%

Total Distressed Sales: 4
Percent of Total Distressed Sales: 14.3%

Contact me if you would like additional information on any of these Stone Ridge Homes for Sale

NEW LISTINGS

According to MLS there were 6 homes new to mls for the week of 4/23/11 - 4/29/11. This is 3 more than the previous week. None are distressed sales.

Condos:
0 BYRNE MEADOW SQ #0, ML#: LO7588261 LP: $262,990 Status: ACTIVE DOMM/DOMP: 1/1 (new)


Town Homes:

24649 KINGS CANYON,  ML#: LO7588506 LP: $385,000 Status: ACTIVE DOMM/DOMP: 0/0
41904 GALLBERRY TER, ALDIE,  ML#: LO7587404 LP: $396,365 Status: ACTIVE DOMM/DOMP: 1/1 (new)
25101 SILURIAN TER, ALDIE, ML#: LO7584419 LP: $399,900 Status: ACTIVE DOMM/DOMP: 6/6

Detached Homes:

24855 SERPENTINE PL, ML#: LO7587276 LP: $499,000 Status: ACTIVE DOMM/DOMP: 1/1 (short sale)
41776 CORDGRASS CIR, ML#: LO7586880 LP: $634,900 Status: ACTIVE DOMM/DOMP: 1/1


 

UNDER CONTRACT

Acording to MLS there were 3 homes received any contracts for the week of 4/23/11 - 4/29/11. 1 more than the previous week

Town Homes:

24637 NETTLE MILL SQ, #: LO7521198 LP: $339,900 Status: CNTG/NO KO DOMM/DOMP: 30/30 (short sale)

Detached Homes:
 
24772 HIGH PLATEAU CT, ML#: LO7575993 LP: $599,900 Status: CNTG/NO KO DOMM/DOMP: 12/12
42098 FIDDLEHEAD PL,  ML#: LO7581431 LP: $599,999 Status: CNTG/NO KO DOMM/DOMP: 6/6



This is 1 less distressed sales going to under contract status this past than in the previous week. The average days on the market for the 3 homes is 16 days or about .5 months. This is under he current absorption rate for Stone Ridge of 2.0 mentioned in the introduction.

SOLD

Acording to MLS there was 1 home sold and went to record for the week of 4/23/11 - 4/29/11. Sometimes closings get delayed or the listing agent forgets to update the status in a timely matter.

Town Homes:

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

25136 PENNYWORT TER, $399,000, $390,000 - $0 = $390,000, 97.7%, 21/21


Average Net %: 97.7%
Average DOMM / DOMP: 21/21

SUMMARY

The current inventory level for Stone Ridge decreased to 28 active listings. There were 6 new listings, 3 homes recieving contracts and 1 home 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