To all Sellers on the Fence – the Buyers are not on Vacation
Emerald Hills sales continued the strong sales growth that we saw in the first quarter of the year. With 37 homes closing escrow April 1st through June 30th, the median price was up over 13% from Q1 2015. New construction, move in ready, updated homes and larger lots saw the biggest increases. A home on Oak Knoll on over 2 acres sold for over $1m over list price at $4,350,000 and a brand new construction home on Glenlock sold for $3,500,000. There were three homes that closed at over $3m and 6 more over $2m. There was not a single home below $1m. While there was little more inventory than in Q1, inventory was down sharply (37%) from last year at the same time. Not surprisingly, with inventory so low, Days on the Market for Q2 continues to be very low at 36 days. There are lots of buyers out there looking for new homes in Emerald Hills, so with prices at an all time high, if you are considering selling its still a great time – the buyers have not taken the summer off.