June Sales Update

As we head into the summer, the McCormick Ranch real estate market continues to crank along. Prices are steadily rising, inventory continue to remains low, and homes are selling extremely quickly.

To sum it up in one quick chart, look at this below.

We're seeing a substantial drop year over year in how quickly homes are selling. Condos have had the most rapid decline with a 33% decrease in average DOM. Patio Homes dropped 29%, SFR dropped 17%, and townhomes dropped a small 5%. These all continue to trend downwards, as well.

Inventory remains extremely low. With low inventory, buyers are forced to move quickly on available homes thus reducing DOM.

As of now, there are only 105 active and available listings throughout all of McCormick Ranch. With 57 total sales, this represents just 1.85 months of inventory.

This makes it an extremely good time to be a seller. I've seen multiple scenarios of single family homes in the $500,000-$1,000,000 selling over a weekend. Townhomes are seeing recent strength, especially in Las Palomas. Condos are absolutely on fire and everything being listed is gobbled up almost instantly.

We will have to see if this changes at all during summer. June, July, and August and sales numbers tend to drop by 15-20% across the board. Prices held steady last summer (and even continued to gain) so we could be in for further appreciation and gains.

Until next time! As always, please subscribe to receive these updates delivered direct.