The holiday season is upon us and our neighborhood real estate market continues to tick along at a good clip. In all, eight home sales closed last month. Five of the eight sales were properties west of Sunland and the other three were located between Sunland and Jupiter. Sale prices range from $215,000 to $455,000, which brought us to a median sale price of $280,000.
The inventory of Lochwood homes that buyers have to choose from remained quite low, in fact it was nearly 40 percent lower than the number of homes for sale in October 2016. Lower inventory typically equates to faster sales and increasing prices. That's what we've experienced the past few years. However, the median days on market increased to 30 days from 9 days in October 2016. This could indicate that there are simply fewer buyers in the market.
Here is a summary of the neighborhood homes that sold in October. The homes in blue, italicized text are located between Sunland and Jupiter.
Thanks to all of you who stopped by my open house on Ridgemeadow on the 5th. It was nice visiting with you and getting feedback on the property. Overall, the comments were quite positive. Again, if you of anyone looking to buy a home in our fabulous neighborhood, please let them know about this home. It's 2,450 square feet with 3 bedrooms, 2 baths, and 3 living areas, which give it a very flexible floor plan. It has been wonderfully maintained with a fully updated kitchen and partially updated bathrooms, all new windows, stunning landscaping and a large covered patio. Click on this link for details:
Have a wonderful Thanksgiving! I'll be back about this time next month to give you an update on November sales.