Weekly Update 10/15/1/11 - 10/21/11

INTRODUCTION

As of today, there are 17 active listings in MLS and 7 homes which went under contract in the past 30 days. This gives us a current absorption rate of 2.4, lower than last week's rate of 3.2. Of the 17 active listings, 1 is new, 11 are traditional re sales the remainder are distressed sales which break down as follows:

Disclosed Potential Short Sale Condos: 
Disclosed Potential Short Sale Town Homes: 2
Disclosed Potential Short Sale Detached Homes: 2
Disclosed Potential Short Sales: 4
Percent of Short Sales: 23.5%

Bank Owned Condos: 1
Bank Owned Town Homes: 0
Bank Owned Detached Homes: 0
Total Bank Owned: 1
Percent of Bank Owned: 5.9%

Total Distressed Sales: 5
Percent of Total Distressed Sales: 29.4%

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

NEW LISTINGS

According to MLS there were 2 homes new to mls for the week of 10/15/1/11 - 10/21/11. This 2 more than the previous week.

Condos:

24641 ROSEBAY TER #13, ALDIE, LP: $279,900 DOMM/DOMP: 3/3 (bank owned)

Detached Homes: 25030 GRAYWACKE DR, LP: $559,900 DOMM/DOMP: 0/0

UNDER CONTRACT

According to MLS, there were 2 homes which went under contract during this period, the same amount as the previous week.

Detached Homes:

42072 BEAR TOOTH DR, Status: CNTG/NO KO LP: $$499,900 DOMM/DOMP: 19/19

24777 HIGH PLATEAU CT, Status: CNTG/NO KO LP: $540,000 DOMM/DOMP: 22/69 (short sale)

This is the same amount of distressed sales going to under contract status this past than in the previous week. The days on the market for the 2 homes is 44 days or about 1.5 months. This is under the current absorption rate for Stone Ridge of 2.4 mentioned in the introduction.

SOLD

Acording Acording to MLS there was 1 home sold and went to record for the week of 10/15/1/11 - 10/21/11. 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

42148 BLACK HILLS PL, $455,000, $455,500- $0 = $455,500, 100%, 54/54 (short sale)

Average Net %:   100%
Average DOMM / DOMP: 54/54

SUMMARY

The current inventory level for Stone Ridge increased to 17 active listings. There were 2 new listings, 2 homes recieving contracts and 1 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.