July 2017 Sales updates

Early summer sales has stayed strong throughout McCormick Ranch! Single family homes and condos have continued their rise over the last 12 months. Patio homes have been essentially flat and townhomes have gone down a bit.

Townhome and patio home sales are low in pure numbers so a single high or low sale price can affect the averages more.

The biggest data point to me is that single family homes have been holding their new highs with good strength. The average sales price in April was around $578,000, May was $581,000, and June was just a hair short of $583,000. These are slight increases each month but the shown consistency is important.

As of right now, there are only 103 active and available homes in all of McCormick Ranch. June had 44 sales, just a tick down from the 45 in May. What does this mean? Inventory is still tight! We have just 2.3 months of inventory which could lead to continued strength and price appreciation. We also see this with Days on Market trending downward over the past few months.

That being said, the second half of the year generally sees a lower number of sales. In 2016, there were 303 sales in the first half of the year compared with 229 in the second. We've seen 311 sales in the first six months of 2017 and will have to wait to compare numbers later.