Interest in Folsom and EDH certainly picked up last week. Over a quarter of the houses pending sale in my criteria went under contract this past week. The ratio of pending sales to available has increased significantly over the last couple weeks.
Could it be that the dropping price-per-square-foot has enticed buyers back into the market (its dropped close to $9 in 3 months)? Or could it be that borrowers want to lock in a purchase now before interest rates rise?
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3 comments:
While you were out, at least 4 homes over $1 mil sold in Folsom.
Sippn -
I wish! I hold my search criteria constant, same price range (nowhere near $1 mil), as well as same beds, bath, and sq footage minimums. This controls for everything important but acreage (which is hard to do because usable acreage depends on how many stories a house is).
By holding the sample relatively constant, I can then determine if significant changes have occurred. Approximately 60-70 houses show up in my criteria for Folsom and EDH.
$1 mil....where the h{ll do people get the $$ for these places?
Addendum...the reason I mention the number of houses in my criteria so often, is to illustrate that the sample size is not so small as to be influenced by minor changes. Typical sample size requirements for normal distribution is around 30.
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