Focus On Newer Construction

This week it's time to take a look at activity on newer homes in our market. These are houses that were built in 2004 or later, resale only (not including homes sold by the builders).

We have a pretty good inventory of these homes at the moment, with 12 active listings. Keeping with the current trend of decreased REO activity, only one of those is an REO listing. The bulk of them - 8 - are short sales, with 3 traditional sellers in the mix.

Sales activity has been pretty steady, but not as robust as the market as a whole. Given that the price points on these tend to be a little higher than average, that's not surprising. We have 8 contingent listings (0 REO/7 SS/1 Trad) on the market, and 4 pending units (2 REO/0 SS/2 Trad). We've had 4 sales in the past three months (2 REO/2 SS/ 0 Trad). From that very small number, it looks like prices might have edged up a little over the past few months, but it's a very small data set to use to draw any conclusions.

Next week I'm going to approach the short sale segment of the market from a buyer's perspective, so make sure you come back for that.