As of March 22nd there were 29 Pending Sales in Verrado. With current existing inventory in the 40 to 50 range supply should continue to dwindle. Here is a breakdown of the current Pending Sales:
3 Bank Owned, 3 Short Sales, 8 Builder, 15 Traditional Resale
On February 1st I reported:
9 Bank Owned, 5 Short Sales, 9 Builder, 8 Traditional Resale
As the distressed property inventory continues to shrink we should see an upward movement in price per square foot for the overall market. With overall inventory of existing homes shrinking along with the builder spec inventory we should see more and more new builds being built. Most of the builders have taken price increases in the last month, including Ashton Woods whom just took a $3000 price increase this week. Look for an update on builder sales for Verrado in the coming weeks.