May Sales Update

May turned out to be a bit of an enigma for McCormick Ranch. We saw much of the same continued growth as has happened over the prior years. Inventory is still incredibly low and homes are selling quickly.

The one interesting data point was the number of sales over $1,000,000. When looking valley wide, sure it might not be that impressive. But there were 4 $1M+ sales here in April. The preceding 12 months has just 4 throughout it. The highest priced home closed at $1.65M and was a 6728 square foot lakeside masterpiece. As we see in the average price chart, this will definitely skew the numbers.

Price per square foot has continued to climb for all categories. The million dollar sales did not greatly affect these numbers as they were fairly close in range to the averages.

Besides that, it has been business as usual. Inventory is still very low with just 1.92 months. We are in a full sellers market. While we are now approaching the end of the busy season, I still do not see enough of a build up in inventory happening to change this short term. We should continue to see strength in sales and activity here.