|Forest Meadows Real Estate Stats July 2021 proves that the real estate market in Forest Meadows remains strong! As 16 homes sold last month plus 15 homes pending sale as of 8/5.|
Price appreciation remains in the double digits with a new record-breaking average price of $473,188 (up 18.3% from last year). We also had a new record median price of $467,250 which is up 17.6% from last year. On average, homes are selling for roughly 3.6% above asking price, indicating that demand for homes in our area has not dwindled. Homes continue to sell very fast in our neighborhood with an average time on market of only 4 days!
Now is the ideal time to sell if you have been on the fence about it! Let us help you get the most for your home in the least amount of time!
|To see more detailed statistics for our neighborhood, including quarterly stats, click here.|
While real estate didn’t smash any records last month, we did have a few noteworthy things happen. In July 2020 we had an all-time record high for home sales (partially resulting from closing delays due to Covid issues last year), and even though sales were down slightly from last year, we come in a close second at 1,844 homes sold.
We are also still seeing rising homes prices. The average price remained just above the $500k threshold at $500,430, up 17% from last July. The median price tied last month at $450,000 which is up 19.4% from last year. We are still seeing double-digit price increases year-over-year.
Even with rising prices, there may finally be a glimmer of hope for buyers. As of August 4th, there are 924 homes for sale. While this is still down from last July, it is the first month since September 2020 that we have over 900 homes for sale!
Make no mistake, this is still a very tight inventory with barely a 2-week supply of homes. Demand has not waned with 1,844 homes sold last month. The average selling price was 4.5% over asking price, indicating that many buyers are still paying over list price to win a home. Most experts agree that home prices will continue to rise throughout the rest of the year, but at some point home appreciation will slowly moderate to a much more sustainable level as supply increases.
Homes for sale in Forest Meadows & The Trails, click HERE
What has sold in Forest Meadows & The Trails this year, click HERE
To see more detailed information, please visit our Market Conditions page.
Give us a call whether you are thinking of buying or selling!
Rick Van Wieren (719) 331-7675
Mary Barkley (719) 421-9360