Lochwood Update | November 2019

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Real Estate

Dear neighbor,

Happy holidays!!!! Jared and I got our tree up this weekend, and with the help of a few of our neighbors on Cheswick, we got our exterior lights up too. We are ready for the neighborhood holiday party on Friday the 13th, and hope to meet many of you there in person.

BIG thanks to all of you who contacted me to receive your monthly neighborhood market update via email. Since most of you wanted me to put the $5 toward another cause, Jared have adopted two angels from the angel tree at Reilly, and we will use the money to buy the items on their Christmas wish list.

Before we get into the homes that sold in November, I have another offer for you. Coldwell Banker is giving away some high-tech household gadgets like a Smart Home Staging Kit (valued at $1,220), a Nest learning thermostat, multiple versions of the Amazon Echo, and more! You can enter from December 10 through the 31st and the drawing will be on or around January 2, 2020. Click here for details and to enter.

Now, let’s take a look at how our neighborhood market performed last month. Year-over-year (below), November sales were about the same as last year. The number of days that a home was listed before going under contract was also up considerably from 17 to 103. Inventory was up from 3.4 months to 4.2 months. Inventory has trended upward pretty consistently since January of 2018 with exception to August and September of this year, but it shot back up in October, and increased again in November. See the graph below the year-over-year table. The median sale price was down, but that does not concern me too much because we have a wide range of housing prices in the neighborhood. Year-over-year, the percent of original price that homes sold for was six percent lower, but up from 87.5 percent in October of this year.

Individual sales from November (below) look very similar to the sales that I reported in September and October….listings with a high count of days on market and those with significantly fewer days on market. The number of November total sales was consistent with November 2018.

As of the writing of this letter, there were 43 Lochwood homes actively being marketed for sale with list prices that ranged from $240,000 to $659,900 and 56 median days on market. Visit robynflessnerprice.com to view the neighborhood homes that are currently for sale.

As always, thank you for your time and I hope to see you at the neighborhood holiday party on the 13th.

Have a wonderful holiday season.

~ Robyn