August 5, Weekly Analysis

August 5, Weekly Analysis

Two new listings this week, and they are color coded with yellow on the list – although one was listed apparently 18 days ago and just showed up on the list.

Some people have asked if my listings were the ones in yellow, so this week I placed my listings color coded in green. Yellow has always denoted the homes appearing on the list for the first time.

One home went into Pending this past week (by our office): 28136 Glenmeade Way, a 3/3 of 3,048 s.f. which had been listed at $359,000 — $419,000.

One home closed escrow: 27253 Mountain Meadow Rd, a 3/3 of 3,100 s.f. (on 39.87 acres!) closed escrow at $1,800,000.

You will note that we still have very few listing that are not on large lots, because almost all of the smaller properties have gone into Pending or have Sold. The competition for those smaller homes on smaller lots has been the hallmark of the Summer months in The Meadows.

While we do not know the population of potential Buyers at any given moment, the Summer sales were spectacular in the $300,000 — $450,000 range. There is every reason to believe that there are still unfulfilled Buyers out there in that category when new homes are listed.

The traffic in the Executive and Luxury homes remains excellent, although sales are not anywhere near the level of the smaller homes on smaller lots. That makes economic sense, but still the larger homes on larger lots are virtually all of the remaining inventory.

While I do not normally cover the Condo properties in my list and my analysis, I do note that one of the Condos SOLD this past week at $102,000, and it appears the Condo prices in the Meadows are on the rise.

I might note that our homes have always been undervalued because most people do not know we are here, so there has historically been less competition for our homes. Recently, our homes have attracted a lot of Buyers because our homes were – and are – under priced.

We pay for the relative seclusion in our home values, and that has been a blessing and a curse, but it is something that our residents have always treasured – right up until the day comes to sell their homes. Nevertheless, the length of time most of our residents have lived here attests to the fact that they would never move unless circumstances force them to.

Our new residents will grow to appreciate the luxury we have enjoyed.

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