December 2016 Market Update!

# of Closed Sales: 9

Average Days on Market for Solds: 18

Median Sales Price: $545000

# of news listings: 1

Months of Inventory Last Month: 1

In December we saw a slight uptick in sales by 2, but there was a substantial increase in the median sales price increase by almost $250,000 in one month.  This moreso points to the simple fact that homes that are priced above $500k tend to take a little longer to sell and smart buyers will wait to make offers on these higher priced homes after they have been sitting on the market.  Though since Cheesman Park is still very much a seller’s market, these buyers that ‘waited’ were only waiting to make offers a couple of weeks after they were initially listed.  I foresee more homes coming on the market now that we are out of the holiday season, only 1 new home was listed in December that is still active, but will continue to see a trend of a seller’s market.