The Verrado 2011 Real Estate Market ended on an up note with a 4th Quarter price per square foot average of $83.42 and a median price of $215,600. Here is how the rest of the year looked.
Quarter 1 – $81.45 per sqft and median price $209,975
Quarter 2 – $85.54 per sqft and median price $186,000
Quarter 3 – $79.01 per sqft and median price $178,500
Overall the year ended with an average price per square foot of $82.66 and a median price of $197,951. The builders have reported a total of 153 closed homes in 2011 up from 98 in 2010. Combined MLS and builder closings for 2011 were 354 a 23% increase over 2010’s number of 287 combined closings. Inventory remains low. As of today 64 homes are listed on MLS, 38 are builder spec homes. Some of which have not started construction. That leaves 38 resale homes on the market as of today. The distressed home inventory remains low with 4 total. One short sale listing and 3 bank owned.
Things seem to be improving over 2010 in Verrado what do you think?