Sometimes Stats Are Confusing

We live in a community that is served by a number of real estate brokerages and residents are used to getting updates in their mail tubes from several of them.  As a resident agent, I get those as well and am frequently asked about things that appear on them.  The first thing I tell people is that the sales information provided was current the day the flyer was printed, but it is very likely that it was already outdated the day it arrived in your tube.  That is why I encourage everyone to visit my website regularly for the most current stats and, if you want updates delivered to you, I'm happy to set up a personalized auto-email to keep you informed.  Whether you want info about the community in general or something more specific (like a particular model or, perhaps, basement or loft homes), parameters can be set to give you that information.

Today, a neighbor asked me if I could "offer some insight on what caused our Summit Collection to decrease in value according to the July 2020 report" that arrived today.  She was referring to a graph for Summit homes that showed the following: 

• 2018 - $360,224
• 2019 - $364,849
• 2020 (thru June) - $360,363

This was my response...

2019 included the sale of 12 basement homes (and 7 loft homes) which sell for a higher price and, therefore, affected the average sale price.  In 2018 there were 7 basement homes (7 loft homes) and to date this year there have only been 6 basement  (5 loft homes) home sales.  Also, remember that size (models) of homes and lots affect price, so the average price isn't really telling you that values have gone up or down.  Let me know if you want me to send you the lists of closed homes for 2018, 2019, and 2020. 

2018

Single Story - 40

Basement - 7

Loft - 7

2019

Single Story - 38

Basement - 12

Loft - 7

2020 (thru June)

Single Story - 19

Basement - 6

Loft - 5

As of today there are only 25 active single family residences (SFR) and 4 Carriage Homes/Villas on the market.  When the document was printed, there were 34 homes for sale (though they didn't say if that included both SFR and CH/V or just SFR).  Check my website for the most current stats.

Within an hour of my response, the number of active SFRs dropped to 24.  See my posting below for an update on SCCL Sales.

One last note... when agents who aren't familiar with our community put listings on MLS, they don't always include the model name in the listing.  When a search is done for a particular model, those that do not have a model listed will not come up and may not be calculated on a graph such as the one that was referenced above.
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Remember that each collection of homes has a variety of models.  The Summit collection, for example, includes 5 models (Copper Ridge, Surrey Crest, Tifton Walk, Vernon Hill, and Willow Bend).  Some of those homes have basements, some have lofts, some have wooded views, some have golf course or water views, and all have different looks (all vinyl siding, brick, and stone with different roof designs)... all of these things make a difference.  When looking for comps for a home, make sure you're comparing "apples to apples." Please contact me if you'd like to see what the comps for your home look like.