College-Glen Quarterly Real Estate Update - Q2 2015
The market stayed very stong in the second quarter compared to the first quarter as 2015 hit the selling season. There were 39 sales in the second quarter, way more than the 19 sold in the first quarter and more than the 28 sold a year ago. The average sales price ($298,178) was up a bit from last quarter ($294,895) and up significantly from one year ago ($282,759). Average Days on the market(17) has decreased from last quarter(29) and is right around the same from a year ago(18) as strong buyer competition drove the spring market in College-Glen.
WOW!!! College-Glen went crazy in the second quarter, As you can see the market had way more sales compared to last quarter and also compared to the second quarter of 2014. Buyers were out and competing with each other for the best properties that hit the market. That led to multiple offers on many properties and an uptick in the average sales price. As we are now into the middle of summer, the market is still slightly favoring sellers but due to so many buyers getting homes and now some more inventory in the neighborhood things are looking to be balanced a bit more for the second half of the year. It is a price sensitive sellers market. The over-priced properties are sitting but the ones that show well and are priced right are receiving multiple offers, sometimes above list price. I expect the third quarter of 2015 to be more balanced but still leaning a bit towards sellers.