The market in the Edgemont School District has been quite busy lately. As of May 26, 2015 there are 55 homes actively on the market.
Under $1 Million = 13 Homes
$1 – $1.5 Milllion = 22 Homes
$1.5 – $2 Million = 10 Homes
$2 – $3 Million = 6 Homes
Over $3 Million = 3 Homes
In contract (as of 5/26/15): Total of 33 Homes
Under $1 Million = 14 Homes
$1 – $1.5 Million = 15 Homes
$1.5 – $2 Million = 3 Homes
Over $3 Million = 1 Home
Sold in the last 6 months (since 1/1/15): 48 Homes
Under $1 Million = 25 Homes
$1 – $1.5 Million = 15 Homes
$1.5 – 2 Million = 7 Homes
Over $2 Million = 1 Home
Many market factors seem to be in play. The under $1 Million homes are selling quickly because the buyers want to be in the Edgemont area. Most of these homes need some work, but at that price, the buyers are willing to do the work.
Some buyers want a home that is move-in ready. They are buying the homes that have been updated already at a higher price point.
Sellers are looking at the market value prices of their homes and are pleased that their price points are much better than several years ago. It may be time for them to move ahead with their plans to relocate.
The inventory of homes in the Edgemont School District is still low and needs more properties to satisfy potential buyers. There are multiple bids on many homes in Edgemont. Potential buyers who do not win the bidding war are forced to move on to other homes in a similar price range. With a low inventory and many bidding wars, now is the time for potential sellers to put their homes on the market.
Edgemont Real Estate 