Tuesday, May 27, 2008

How are sales in Starcreek so far in 2008?

All information below was taken from NTREIS, and is believed to be accurate. It was pulled up on May 27, 2008, and it includes all listings, new and preowned, in Starcreek, that are listed in the MLS.

There are currently 29 active listings in Starcreek, with the average list price $439,339, and the average list price per foot $120. The average days on market for these active listings is 90.

The good news is, there are currently 11 homes under contract in your neighborhood. (Remember, all statistics include preowned and new construction.)

There have been 27 homes sold so far in 2008, as of May 27, 2008. The average sales price is $456,177, and the average price per foot is $120. Keep in mind, many of these sales are new construction, and Highland and Huntington homes do not disclose their sales prices in the MLS. Therefore, these statistics are off, because the sales price and price per foot is based on the LIST PRICE, not the SALES PRICE.

Wow, your neighborhood has one of the best absorption rates of all of the subdivisions in West Allen. There is currently an approx. 4 - 5 month absorption rate in your neighborhood. Remember, sales price will not begin to go back up on a consistent basis until we get rid of the inventory, and the absorption rate goes down. I still like to see a 3 -4 month supply of inventory, but Starcreek is going in the right direction!

Remember, there are diffferent phases in your neighborhood, and to determine fair market value, you must use the most similar sales. For specific information on your neighborhood and home, please contact me, Michelle Musick Jones, the #1 agent for Coldwell Banker in Collin County and the #1 agent for preowned listings sold in all of West Allen. I get results, and I know the market. Go to starcreekinfo.com or contact me at 972.731.1222.