This is a monthly contribution to the Blog by Greenwood realtor Doron Weisbarth
Slowly but surely, we entered the spring sale season. As a reminder, year-over-year comparisons might be misleading, as the market last year was red-hot and out of control. Instead compare the current dataset to that of the past few months. What you’ll find is a market that is continuing to pick up speed. You can see the full report online at PhinneyWoodHomes.com.
One parameter that needs to be put into context is the ‘Sale Price’. To help increase density, the city is allowing more homes to be built per acre, while also limiting the size of those homes. Many of these homes are then condominiumized. The net result is that most of the homes that are being built in our PhinneyWood neighborhood – and there are a lot of them – are smaller and sometimes classified as condos. So, an important parameter to track is ‘Price per Sq Ft’, which I added to the report starting this month. You can clearly see that the ‘Price per Sq Ft’ has been rising faster and longer than ‘Sale Price’, both for SFHs and for condos.
Overall, the market remains active and strong, aided by declining mortgage interest rates, strong demand, and weak supply.
Thinking of selling your PhinneyWood home, or buying a home in our neighborhood? Find out how the PhinneyWoodHomes data can guide you to make better decision. For a free, no-obligation consultation, call Doron Weisbarth at 206-779-9808.