Sometimes to really get a handle on a specific community we need to review the real estate numbers. In this blog, we’ll take a look at Lake Orion’s Market Numbers for 1st quarter – 2016/2017 and 2nd quarter – 2016/2017. We’ll review the number of solds via specific price points and we’ll take a look at the Average Sold Prices, CDOM and the overall number of solds.
I want to do this visually first and then we’ll review it at the end. If you have questions I hope you’ll let me know. My job is to make this information as crystal clear as possible.
I’d like to start by breaking down the last chart on this page. Let’s dive right in! ????
In the First Quarter, with respect to year over year comparisons, the number of solds increased by 26.96 percent, days on market decreased by 19.77 percent and the average sold price increased by 1.65 percent.
In the Second Quarter, again comparing year over year numbers we find that the number of solds increased by 20 percent, days on market decreased by 26.98 percent and averages sold price increased by 19.61 percent.
As far as the individual pricing breakdown we find the first quarter held evenly in 2016 and 2017 for homes 500k and higher with 2 solds. In the second quarter, that same price point increased in 2016 to 6 solds and in 2017 to 18 solds!! That’s quite a difference wouldn’t you agree?
When we skip down to the 400 to 499k bracket we are looking at 6 solds for the 1st quarter of 2016 and 8 in the 1st quarter of 2017, BUT moving into the 2nd quarter we see an increase to 13 solds in 2016 and 33 in 2017!!
Next, we move on to 300 to 399k and in the 1st quarter of 2016, we saw 23 homes sell and in 2017 a modest increase to 25 homes sold. In the second quarter of 2016 there were 32 homes sold and in 2017’s second quarter there were 32 as well.
Looking at 200 to 299k we see in the 1st quarter of 2016 there were 26 homes sold and in 2017 there were 43! In the second quarter of 2016 we had 50 homes sold and in 2017 there were 57 homes sold!!
Lastly, we review the 100 to 199k price range and in the 1st quarter there were 25 homes sold and in 2017 there were 34 homes sold. In the second quarter we saw in 2016 47 homes sold and in 2017 there were 41.
So a very interesting look at Lake Orion’s market numbers. If you need clarification, please don’t hesitate to reach out. Oh and don’t miss our latest community blog about Lake Orion.