River Run Real Estate Market Update

By: Julie Pfeffer, Broker, GRI, CRS & SFR

704-661-7590 

River Run is staying true to last year’s 1st and 2nd Quarters. We had sold 24 homes last year at this time and we are still on that same track.

2013 Quarterly Sales
Average Price $527,434 $568,543 $603,000 $563,875 $565,713
Average Price per Sq. Ft. $140 $143 $165 $153 $150
Avg. Days on the Market 114 146 107 139 127
Total Homes Sold 9 15 17 8 49
2014 Quarterly Sale
Average Price $575,000 $515,000
Average Price per Sq. Ft. $151 $158
Avg. Days on the Market 115 77
Total Homes Sold 6 18

Not many Resale homes have been selling above $800,000 for the 1st & 2nd Quarters. That may be due to all the New Construction going on in Phase 5. However, Under Contracts for the 3rd Quarter have us selling 2 homes between $900,000 to a Million and 1 home between $800,000 and $900,000. The other Under Contracts are $700,000 to $300,000 with a total of 10. If more go Under Contract, we may meet our 3rd Quarter Goal of 17 from last year.

In the Price Range of $700,000-$800,000, we had 4 homes sell at an average of $730,000, Price per sq. ft. $160, List Price to Sold Price Ratio, 97% and DOM 93.

In the Price Range of $600,000-$700,000, we had 4 homes sell at an average of $620,000, Price per sq. ft. $177, List Price to Sold Price Ratio, 97%, and DOM 58.

In the Price Range of $500,000-$600,000, we had 6 homes sell at an average of $552,000, Price per sq. ft. $156, List Price to Sold Price Ratio 97%, and DOM 59.

In the Price Range of $400,000-$500,000, we had 9 homes sell at an average of $446,000, Price per sq. ft. was $146, List Price to Sold Price Ratio 96%, and DOM 107.

In the Price Range of $300,000-$400,000, we had 1 home sell at an average $385,000, Price per sq. ft. $142, List Price to Sold Price Ration, 96%, and DOM 145.

Distressed Sales were within reason with One Transfer Due to Loan Default and 3 Relocations Homes.

We have had 4 New Construction Homes go Under Contract in the 1st and 2nd Quarters, with an average sale price of $808,000, Price per sq. ft. 191. There are 3 New Construction homes Under Contract for the 3rd Quarter. According to the Sales Center, they had sold 12 Million last year and have also sold 12 Million in the 1st & 2nd Quarters. 6 New Construction Homes have Construction to Perm Loans.

The exciting news is homes are getting close to 97% of their asking price. Our Price per sq. ft. is higher than last year as well as Days on Market. The Majority of Resale Homes usually sell in the 2nd and 3rd Quarters.

Call Julie Pfeffer 704-661-7590 for more information about River Run homes.

Here are just a few of Julie’s beautiful homes for sale:

18530 Green Knoll Trace, MLS# 3031719

19509 River Falls, MLS# 3003232

18532 Rollingdale, MLS# 2205059

18714 River Crossing, MLS# 2222590

18512 Hammock Lane, MLS# 3009357

green knoll traceriver crossing blvd river falls dr

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