September brings cooler temperatures, more homes for sale, and many questions about the real estate market as there are hints interest rate cuts are coming this month.
Six homes are For Sale (NEFAR 8/26/20), and on the market 1-57 days. List Price per Sq Ft ranges from $257.45-$283.15.
- 10343 Cypress Lakes, 2,583 sf, Listed at $665,000, originally at $685,000.
- 10393 Cypress Lakes, 3,179 sf, Listed at $829,000, originally at $855,000.
- 8208 Hampton Lake, 2,880 sf, golf course view, Listed at $750,000, originally at $767,900.
- 9902 Windwater Ct, 4,209 sf, pool home, Listed at $1,100,000.
- 10060 Deercreek Club, 3,073 sf, pool home with golf course view, Listed at $799,000.
- 8278 Persimmon Hill, 5,121 sf pool home, Listed at $1,450,000.
Two homes are Under Contract and have been on the market for 33-45 days.
- 10045 Chester Lake, 2,440 sf, Listed at $675,000.
- 9912 Margate Hills, 5,158 sf, Listed at $1,400,000.
Eight homes sold the last 3 months from 87-101% of List Price. The average Days on Market for the homes is 55 days, up from 37 days last month. The most recent sale not previously detailed is 8213 Hampton Lake Ln, a 3,192 sf pool home with 4 bedrooms and 3 baths, which sold for $640,000.
More homes on the market means buyers have more choices. Buyers expect kitchens and baths to be updated, fresh paint, and consistent flooring throughout the home. If these items are not completed, a buyer will adjust offers accordingly. The same is true of major items like the roof and HVAC. The challenge is to balance the cost of home improvement projects versus the value it adds to a home. If there is an interest rate cut in September, what impact will it have on both buyers and sellers?