Congress Park Real Estate Update – August, 2014
Houses are going like proverbial hotcakes in Congress Park selling within two weeks of being listed on average. The silver lining for intrepid buyers is that prices are stable amidst the flurry of activity.
Speaking of Hotcakes: Try Table Six for a Great Congress Park Brunch
Chef Carrie Shores officiates over this classic American bistro. Come to Corona Street and sample an inspired cuisine that includes Stuffed Brioche French Toast and Papadum Flapjacks with Garam Masala and Peach Ginger Chutney.
Inventory was down 40 percent this last quarter, with 53 active listings on the market. From February-April, 2014, there were 88 homes for sale. This is a far cry from a year ago at this time, when there were 276 active listings in Congress Park.
The number of sold homes increased 43 percent this past quarter, with 80 closings. The previous quarter, there were 56 homes sold.
Days on the Market
Here’s the most impressive statistic of the quarter. The days on the market (DOM) for the Congress Park real estate market shrunk from 95 in the previous quarter to a mere 14 this past quarter. That is an 85 percent decrease! A year ago, the DOM was 55 for Congress Park.
Average Sales Price
The average sales price declined negligibly this past quarter, going from $391,005 the previous quarter to $383,292 this past quarter. Congress Park real estate prices have also made no gains over May-July, 2013.
Interested in Buying or Selling Congress Park Real Estate?
If you are interested in selling your home, I can assist you in setting a price that lets you get the most from your investment. For buyers, I offer expert advice in all aspects of this dynamic market and will help you to negotiate events like multiple offers and other strategies that give you the competitive edge.
Congress Park Real Estate