This is Joey Laughridge with the monthly Connestee Falls Market Report, now being posted on the Team Billy Harris blog! If you’re interested in receiving this in your inbox, please contact us. 

To view the full report, please click on the YouTube video above. 

HIGHLIGHTS

Here is a quick market update for Connestee Falls as of March 3, 2023.

There are 14 homes currently on the market, and a majority of those are priced about $600,000+, and quite a few luxury listings over $1M+.

There were 5 homes sold year-to-date in the range of $300,000 to $1M+. Last year at this time, there were 8 homes sold, so we are a little behind. The good news is, the available homes last year at this time were about half, so there are more homes on the market right now. But inventory is still relatively low for Connestee, and around this time of year is when the market starts picking up and more homes go on the market. If you’re thinking of listing, NOW is a great time – you’ll have less competition than later in the year.

Days on average homes are closing 46 days on the market. That means days listed in MLS, Zillow, etc. If you’re going much past that, you’ve likely listed a little too high and need to make price improvement.

Homesites: There are currently 27 homesites on the market, with 1 closed year-to-date. Last year at this time, there were 3 sales. I think the sale of homesites will continue to be slow. There is larger inventory, and the price to build is very high. Most buyers choose not to wait and want to go ahead and buy a home already built.

Townhomes: There is currently 1 on the market. Nothing is closed as of yet this year. This particular townhome has been on the market for 192 days.

Properties Under Contract. Of the 14 homes on the market, 4 are Under Contract. One Lot is Under Contract. The featured listing this month is 77 Salola Lane in Brevard, which is a move-in ready home that is well cared for. It has had a lot of updates and it is already getting a lot of activity, so I don’t expect it to last much longer.

Specific data: The average price per square foot is $269. That is about the same as the last time I reported, but it is still a great value for what you can currently build a home for.

As far as percentage of pricing homes are going for compared to list price, it is currently 92.8 percent of asking price. I anticipate we will see that number hover around 93 percent all year long. I think price points have gone up drastically year over year. If you  list your home in this market and get your pricing dead on, you’ll likely close at 100 percent.

Thank you for your time! As always, if you have questions, I would love to answer them. I’m happy to sit down and talk about your home’s current value. Until next time!

 

Joey Laughridge

Real Estate Broker

828-674-3775

[email protected]

 Here is some specific data in relation to property sales at Bear Lake.