The market picked up for the second quarter as the spring/summer season is in full swing. There were 28 sales in the second quarter, up from the previous quarter(21) and same as one year ago(28). The average sales price($282,759) is up considerably from last quarter($262,123) and from one year ago($257,805). Average Days on the market(18) decreased significantly as spring/summer market heated up.
The supply/inventory and demand is more in balance as more homes have come on the market. However, the summer selling season is still going strong in College-Glen. A few recent homes have gone into escrow in a short period of time, some with multiple offers. For the homes that are priced right and show well, the sellers are having good success. The overpriced listings are sitting on the market without a buyer. I expect the third quarter to look very similar to the second quarter.
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