Apple Valley Lake Home Sales
We had one of those Winters that seemed like it would never end which placed a slight damper on home sales at the Apple Valley Lake early in the year. From January 1st, 2011 through May 12th, 2011 there have been 15 homes sell for a combined value of $2,052,501 at the Apple Valley Lake. In 2010 and during the exact time period there were already 25 home sales sold for a combined value of $3,902,850. This means that there are not only fewer home sales at the Apple Valley Lake so far in 2011 compared to 2010 but the average sales price is down from $156,114 in 2010 to $136,833 in 2011.
The home sales numbers above don't show it but there is a tremendous amount of buyer activity taking place at the Apple Valley Lake and the demand is very high. The primary reason the home sales numbers for 2011 are below 2010 is because many of the home buyers for Apple Valley Lake homes already own a home that they need to sell firm. In years past buyers were more willing to buy a replacement home without having to sell their current home but due to the shift in the overall economy buyers are either not as comfortable with this approach or their bank won't float them the interim financing. Either way it has slowed home sales but based on our website views, virtual tour traffic and the number of showings we can certainly tell that home buyer interest is super strong at the Apple Valley Lake.
The reduction in Apple Valley Lake home sales pricing is partially due to an existing bottle neck effect that is taking place with home sale contingent type transactions. There are a large number of home sales on the brink but until those buyers finalize and close the sale of their existing home the home they are wanting to purchase remains in limbo. The Sam Miller Team has alternative methods that in many cases can overcome the bottle neck effect of the home sale contingency buyer. We utilize contingency release purchase agreement addendums which allow us to continue to show homes even when they are under contract with a home sale contingency buyer. From time to time we also offer home trades and guaranteed sales so that our buyers and sellers can move forward with their purchase and sale. We also have a local lender who offers equity loans, bridge loans and interim financing to qualified buyers so they can more forward with their purchase prior to selling their home.
If you are interested in learning more about buying, selling or discussing the possibility of trading in your Apple Valley Lake home give us a call at (740) 397-7800 or send us an email at samsells@sammiller.com
