Emerald Hills Q3 2015

Q3 2015 Market Update – Emerald Hills

For Emerald Hills, the third quarter of 2015 shows some staggering numbers. With only 23 homes closing escrow July 1st through September 30th, 2015 the median price was $2 million, which was up 38% from Q2 2015. The Days on the Market (DOM) for Q3 2015 was down 13% from a year ago. Inventory was also down 13% from last year. Despite these sizzling stats, activity at the end of the quarter started hinting at a little cooling. DOM changed from 33 days in the midst of the spring market to 46 days at the end of September. Activity on properties has been varied. In some cases multiple offers, with 8 offers on 3 Summit Court. In other cases offer dates have been set and despite having disclosures out, no one wrote an offer. Houses are going pending with some contingencies, some have fallen out of contract and homes are taking just a little longer to sell. All of these factors are giving buyers a bit of a break in some cases. The houses priced over $2 million or on steeper lots with a lot of stairs are taking longer to sell than those at lower prices and flatter lots. If you are a buyer and have tired of the frenzy now is the time to get back in the game – this fall may be the opportunity for you to find your new home.

 

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