It’s the topic discussed at every graduation party, over dinner at Local Kitchen and Tap and when watching college football with good friends in the neighborhood. “Why all the real estate signs?”
As a long term resident/realtor in the Lambert High School district it’s obvious we experience a little different listing pattern than some surrounding areas. A majority of our neighbors transferred in from out of state and are usually on a 5/7 year plan for transferring again. Another interesting trend is empty nester families looking to sell after their children leave for college. Many of these families are downsizing or seeking something on Lanier.
Looking back at August 2015 we sold 63 total homes in the Lambert district. St. Marlo led the pack above 500k with 8 homes sold. St. Marlo had the highest selling home in August 2015 at $1,800,000.00. Laurel Springs sold 5 and Grand Cascades 4.
The latest MLS data shows 55 homes selling in August 2016. St. Marlo had 4, Laurel Springs 1 and Grand Cascades 3. The highest priced closing was $827,000.00 in St. Marlo and the least expensive was a house on Bonneville Drive for $103,000.00.
Over the last five years Lambert had averaged 57 homes sold in August. Not seeing a downward trend for closings within Lambert within this data. Actually, very consistent considering our all time low was 49 homes sold back in August 2012.
For the questions “why all the real estate signs?” As of 9/14/2016 we have 215 homes listed in the Lambert district. St. Marlo has 33 listings, Laurel Springs 26 and Grand Cascades with 12 active listings. Where is everyone going so late in the season?
A quick CMA for St. Marlo shows an average of 97 days on market (DOM) with a majority in the neighborhood showing 60+ DOM. One home currently listed for $2,999,999.00 is showing 654 DOM, another for 230 DOM and 9 additional homes posting 100+ DOM.
Laurel Spring has similar numbers with a neighborhood average of 92 DOM. 3 listed for 200+ DOM and 7 additional homes listed for 100+ DOM.
Having sold four of my area listings in August I would point out well priced and well staged homes sell quickly. Give me a call when ready to sell.