August Sales Update
In July 2018, 42 homes in McCormick Ranch were sold. In July 2017, 56 homes were sold. So we are down a little bit in pure numbers. However, this is not a sign of any kind of weakness in the market. Inventory is also much, much lower and we are dealing with the regular summer slowdown. There are 83 homes listed now compared with 103 in 2017.
One interesting statistic is looking at how quickly homes have sold over the last month. Of the 42 sales:
12 homes sold under 10 days
9 homes sold between 10 and 30 days
9 homes sold between 30 and 60
9 homes sold between 60 and 120
3 homes sold over 120 days
Nearly 50% of homes sold under 30 days and 71% of homes sold under 60 days. This is still exceptionally fast and homes are moving!
Going into pricing, we are still seeing continued gains. Prices between all categories are up 8-10% (still accounting for the exceptional change in townhomes and patio homes).
As we move into the fall (really, can we please see some cooler weather?!?), I fully expect sales to continue to be strong. We may run into an inventory crisis if we do not have more come to market.
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