Here is your monthly Beverlywood Area Home Market Update November 2014 for single family home activity.
According to the MLS, a total of 25 homes sold in the Beverlywood and Adjacent area during the entire month of October 2014 compared to 16 last month and 18 in October 2013. The single family homes that sold took an average of 62 days, compared to an average of 57 days the month prior, and sold for 99.07% of their asking price at an average of $605.24 per sq. ft. Currently, there are 33 Single Family homes for sale, compared to 30 last month, and 34 this time last year and 64 three years ago. For Sale homes have been on the market for an average of 43 days with a median price of $969,000 and an average of $1,206,727. The MLS shows there are currently 20 Single Family homes in escrow. Analysis: Sellers market is expected to continue through at least spring of next year. The demand for homes remains strong and during the 4th quarter holiday season we see fewer new listings. Interest rates are still at historic lows but are expected to start rising due to Federal Reserve action and continued improvement in the labor market and overall economy.