College-Glen Quarterly Real Estate Update - Q3 2015
Now that the Third Quarter of 2015 is finished, here’s a look back at Q3 and comparing it to last quarter and a year ago. This is only for College-Glen (College Greens & Glenbrook) single family homes.
The third quarter for College-Glen real estate was really the tale of two different markets. Q3 started off very hot with more buyers than homes available and multiple offers from Q2 carrying over into Q3. Properties were selling fast and for at/above list price. Then August hit and the market transitioned to a much slower pace. It appeared to be a combination of the stock market drop and many families taking a break while they finished up end-of-summer trips and back-to-school preparations. Homes began to sit on the market and sellers were having price reductions to attract buyers. Since Labor Day, things have become balanced between sellers and buyers. Right now it is very much a price sensitive market. The over-priced properties are sitting but the ones that show great and are priced at an attractive value are getting sold. It is currently crucial for sellers to get their home in good showing condition and price the property correctly from the start to attract the most amount of buyers as soon as you come on the market. I expect the fourth quarter of 2015 to be balanced up until Thanksgiving and then most likely slow down through New Years.