As of October 25, 2012, there were only 12 homes for sale at the Lakes of Jacaranda. As the graphs below reflect, prices have stabilized, they have bottomed out, and we are beginning to experience small, incremental price increases. Appraisals remain problematic.
- Average Square Foot Sold Prices --- $127 (Oct 2011-Sept 2012) versus $125 (one year ago) and $130 (nine years ago).
- Median Sold Prices --- $280,000 (Oct 2011-Sept 2012) versus $276,000 (one year ago) and $296,000 (nine years ago).
Prices stabilized this past year, as a bottom was established in alignment with early 2003 pricing. There are only 12 homes for sale at The Lakes of Jacaranda --- a 7 month supply --- 6 to 7 months is considered a balanced market between buyers and sellers. Further, at $127 per square foot, the average price per square foot increased 1.4%; it was $125/sq. ft. for the same 12 months one year ago. I project that as long as inventory stays in balance, prices at the Lakes will likely increase 2-3% annually. Keep in mind that a 2-3% annual increase is the historical 100 year average (we all know the past decade was an unsustainable aberration). Accordingly, it becomes a question of your timeline --- how long do you wait? At an anticipated 2-3% annual appreciation rate, there seems to be little reason to wait on the sidelines any longer. This is as opportune a time to sell or buy as we are likely to see for many years. We have sold 13 out of the 35 sold homes at The Lakes of Jacaranda since the first of the year --- that’s 37% of all homes sold --- more than 1 out of every 3 sales.
Average Square Foot Price – Last 10 Years (Quarterly)
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Median Sold Price – Last 10 Years (Quarterly)
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