This is a view of the Memorial Villages market year to date. One word of caution….this is like looking at the market from an airplane…..it’s an overview. Homes in the Memorial Villages are unique, that is there are many different lot sizes, features of the lot, ages of homes, floor plans, locations, etc. Please call or email me if you are interested in buying or selling. I work in this market on a daily basis…put that knowledge to work for you!
What conclusions can we draw? Overall we have seen price appreciation and very strong activity. Lot sales have been brisk and the price appreciation has been in the lower end of the market. However, there are buyers in the upper end market actively looking; some fabulous homes have sold at substantially higher prices psf than average…..remember this is a market of unique homes.
This is an INCREDIBLE home my clients purchased this spring….warm and cozy and just right!
Piney Point village has wonderful quiet neigborhood streets and tucked away cul de sacs that are very private. There are currently 26 homes on the market ranging in price from $1,075,000 to $8,900,000 (3 are over $5 million) and in the past 12 months 38 homes sold ranging in price from $635,000 to $5,150,000. That represents a 8.2 month inventory supply of homes. We consider between 6 and 9 months of inventory supply to be a “healthy” or “normal” market….balanced supply and demand …..neither a buyer’s nor a seller’s market.
This bar graph was prepared for one of my clients this spring. We were able to look at a slice of the market in the Memorial Villages (Bunker Hill, Hedwig, Hunters Creek and Piney Point) listed between $1,000,000 and $1,300,000. The BIG RED BAR in this graph shows homes available in this price range over the last 2 years….and inventory had trended down significantly. Even though the last month (March) showed a spike up in homes available, the BLUE BAR shows homes going under contract….and that had spiked up significantly too. I really like being able to confirm what we are “feeling” in the market with data. This spring has been one of the best markets in years in the Memorial area.