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ArrowCreek Real Estate Update: June 2011

by admin on June 11, 2011

Morning Folks!

Here’s the latest on what’s happening in the ArrowCreek Real Estate market.

ArrowCreek Median Price of Homes Sold

ArrowCreek Real Estate Values

Median Sold Price for ArrowCreek Homes

Current ArrowCreek median price sold is $601,592.  Though it’s too early to call a market bottom for the greater ArrowCreek area, home prices is not going down as fast as it used to.  (I started tracking the numbers in 2008).
One big reason is the decreasing supply of homes (see graphs, next page).

ArrowCreek Real Estate Supply

ArrowCreek Real Estate Inventory

ArrowCreek Real Estate Supply of Homes (June 2011)

141 homes are currently for sale in the ArrowCreek Market.  Two years ago at the same month, it was 232.  Historically, supply in the past few years has been low for the area.  This is due to the lack of market confidence of many home owners –waiting for sunny skies.  This could be a good opportunity for savvy sellers who can put themselves ahead of the pack.

ArrowCreek Real Estate Demand

Demand for ArrowCreek Real Estate

ArrowCreek Real Estate Demand for June 2011

10 Homes were sold last month.  Two years ago, at the same month, it was 12.  A loss of -16.7%.  Demand has been slowly going down the last two years.

ArrowCreek Inventory MSI (Month Supply of Inventory)

ArrowCreek Inventory of homes

ArrowCreek Real Estate months supply of inventory

Note: MSI simple means the amount of time it would take to get rid of inventory at the current rate of sales.   So if Arrow Creek stops producing new homes to sell, at the current demand it will take 4.7 months to sell the current inventory of homes.
Month supply of inventory is down to 4.7 months.  A staggering 55.4% improvement from the same month two years ago (10.5 months) – perhaps a glimpse of good things to come.

Hope that helped you understand the ArrowCreek a little bit more =)  You can email/call me for any other questions you may have.