– Comparing 2011 to 2010 to date shows a 10% increase in sales, higher averages across the board.
Every month I “door knock” to get to know you and build a professional relationship, with the intention of gaining your trust in one of the biggest decisions you may ever make – Buying or Selling a home. I grew up in and truly love this neighborhood. I feel blessed to have the opportunity to be of service to so many wonderful people. One of the most frequently asked questions I hear from home owners like your self is, “Dan, how are sales doing we compared to last year?”
In 2011, from Jan 1 to August 1 there were a total of 80 homes sold in the Beverlywood and Adjacent area (area 9 in the Multiple Listing Service) compared to 72 in 2010, a 10% increase year over year. Of the 80 single family homes that have sold year-to-date, they were on the market for an average of 59 days, while there was a 45 day average in the similar time frame last year. The average sold price of the 80 Single Family homes sold this year is $840,100 compared to an average of $794,431 in 2010, an increase of 7%. Accordingly, the average cost per square foot of living space increase from $437.54 in 2010 to $449.20 in 2011, a 3% increase. This year the highest recorded sale is $2,300,000 and the lowest is $224,400 while in 2010 the highest sale from Jan 1 to Aug 1 was $1,875,000 and the lowest was $284,500. It is also interesting to note that in 2010 a seller could expect to receive 98.85% of their asking price when their home was purchased, and this year the average is slightly less, 96.28% of asking price.
So while many neighborhoods are still experiencing declines and/or stagnant sales activity, according to the numbers I just shared above, the Beverlywood area sales numbers have increased nearly across the board! More sales at a higher average price and higher cost per sale. It’s only tempered by the fact that on average, it’s taking 2 weeks longer than last year to find a buyer, and home owners on average are getting 2.5% lower sales price vs. initial asking price. The numbers confirm what I continually share, and you already know firsthand, that Beverlywood is a very desirable place to call home.