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WL: Homes Sold: Thru 10/31/09
| Item |
2006 |
2007 |
2008 |
2009* |
| Homes Sold |
47 |
30 |
16 |
17 (+/-)* |
| Avg. Sq Ft |
2,091 |
2,358 |
2,434 |
2,144* |
| Avg. $/Sq Ft |
$160 |
$174 |
$173 |
$146* |
| Avg. Lot Size |
0.76 |
0.77 |
1.12 |
0.95* |
| Avg. Price |
$334,560 |
$410,292 |
$421,082 |
$313,024* |
*Projections from sales thru 10/31/09, and
historical patterns for Q4.
Total WL Housing Market: Contracted since
2006 by 66%, whether measured by number of homes, or total dollars.
Size of Homes Sold: Average Sq Ft has
declined by 12% this year, this is more or less
consistent with national trends.
WL Inventory For Sale: In terms of raw
numbers are
triple what was once considered normal. Months of
Supply stands at 59.3.
Jump To Lot Closings
Nature of Active Home Listings
Median Price: Approximately half
of WL residential listings are priced at $380K or less, (the
median).
$/Sq Ft: The range of active listings is
approximately $97 - $347/Sq Ft as indicated below. There were
a number of price decreases during October for homes priced $200/Sq
Ft and less. The net result was that homes listed for $176/Sq
Ft to $200/Sq Ft declined by 33%, while those listed for $150/Sq Ft
or less increased by the same amount.
| List Price - $/Sq Ft |
# Homes Listed |
| Less Than $150/Sq Ft |
20 |
| $151 - $175/Sq Ft |
20 |
| $176 - $200/Sq Ft |
12 |
| Greater Than $200/Sq Ft |
20 |
Click here to view MLS Data and Photo Galleries of the 20 homes
listed for $150/Sq Ft or less. Updated as changed occur.
No Changes Since: Nov 4, 2009.
Methodology: Villas, Mountainside, and The Lodge were
included in total closings, but excluded from calculations for
average sq ft, average lot size, and $/sq ft.
Homes Closed at Wolf Laurel,
(PDF): House by house, since 01/01/08 with features, $/Sq Ft,
lot size,
etc. Last Update:
10/31/09.
WL Homes Closed Over $500K,
(PDF): Organizing this market segment from 2006 to present
according to traits of homes
that have closed, location, lot size, $/Sq Ft, etc. Last Update:
10/31/09.
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WL: Lots Closed Through 10/31/09
| Item |
2006 |
2007 |
2008 |
2009* |
| Lots Sold |
153 |
40 |
8 |
7 (+/-) |
| Avg. Size |
tbd |
tbd |
0.71 |
0.78 |
| Avg. $/Acre |
tbd |
tbd |
57.95K |
50.45K |
*Projections based on sales through 10/31/09 and
historical patterns for Q4.
Current Months of Supply stands at 106.7,
which is large decline in recent months. This is not due to
increases in demand, but rather to lots expiring, or withdrawn from
the market.
For Madison and the surrounding counties,
inventories for homes and land are inching upwards. This is
counter-seasonal, however not unexpected. We have written
on our blog since 03/08, about pent up supply, what the
literature now refers to as "shadow
inventory".
Lots Closed at Wolf Laurel, (PDF):
Piece by piece from 01/01/08 with salient features.
Old Wolf Laurel Charts Here.
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Data Source: Regional MLS, deemed reliable, not guaranteed.
Copyright, Black Bear Realty, Inc, all rights
reserved. Reproduction, redistribution in any form, even for non
commercial purposes, must be done with permission and attribution.
Contact:
Info@BlackBearRE.com
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