Weekly Update 9/3/11 - 9/9/11

INTRODUCTION

As of today, there are 13 active listings in MLS and 9 homes which went under contract in the past 30 days. This gives us a current absorption rate of 1.4, higher than last week's rate of 1.3. Of the 13active listings, 1 is new, 9 are traditional re sales the remainder are distressed sales which break down as follows: CLICK HERE for entire post...

Disclosed Potential Short Sale Condos: 0
Disclosed Potential Short Sale Town Homes: 3
Disclosed Potential Short Sale Detached Homes: 0
Disclosed Potential Short Sales: 3Percent of Short Sales: 23.1%

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

Total Distressed Sales: 3
Percent of Total Distressed Sales: 23.1%

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

NEW LISTINGS

According to MLS there was No home new to mls for the week of 89/3/11 - 9/9/11. This 1 less than the previous week.

UNDER CONTRACT

According to MLS, there were 3 homes which went under contract during this period, the same amount as the previous week.

Detached Homes:

42073 BEAR TOOTH DR, Status:  CNTG/NO KO LP: $499,900 DOMM/DOMP:   135/522
24777 HIGH PLATEAU CT, Status:  CNTG/KO LP: $549,999DOMM/DOMP:   20/67 (short sale)
24855 SERPENTINE PL,Status: CNTG/NO KO LP:  $550,000 DOMM/DOMP:  39/39 (short sale)



This is the 2 more distressed sales going to under contract status this past than in the previous week. The average days on the market for the 3 homes is209 days or about 7 months. This is over the current absorption rate for Stone Ridge 1.3 mentioned in the introduction.

SOLD

Acording to MLS there was 1 home sold and went to record for the week of /3/11 - 9/9/11. Sometimes closings get delayed or the listing agent forgets to update the status in a timely matter.

Detached Homes:

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

41825 CORDGRASS CIR, $599,900, $590,000- $0 = $590,000, 98.4%, 83/83

Average Net %: 98.4%
Average DOMM / DOMP: 83/83

SUMMARY

The current inventory level for Stone Ridge decreased to 13 active listings. There were No 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.