To Consider: Sold Data for 2Q 2011 in Belle Creek, by Jennifer Prestwich-your Belle Creek REALTOR®

To Consider: Sold Data for 2Q 2011 in Belle Creek, by Jennifer Prestwich-your Belle Creek REALTOR®

2nd Quarter of 2011 came in with 6 closed sales, further reducing the distressed property inventory.  While we are not out of the woods yet, those distressed properties that went under contract did go to completed sales.  Available inventory is at a marked low.  Of the currently available inventory, only 2 homes are in a distressed situation.
The Breakdown: Of the 6 closed sales in 2nd Q, 5 were short sale or bank owned.
Regardless of this, sale prices for Cottage Style (under 1500 square feet) homes averaged $90 per square foot.  2 of the 4 such properties were sold for higher than original asking price.  The last time there was any market activity in this segment was 4Q 2010.
Larger existing homes came in at a disappointing sold price of $88 per square foot.  This is a marked drop from 1Q 2011, although the short sale was responsible for dragging down sold stats for 2Q.  It is important to remember that well cared for, and maintained homes will always bring in a higher price.
The Bottom Line: At this point, it would likely be wise to stay put if you have a larger Belle Creek home and you do not need to move.

Remember that every situation is unique in this regard. Be sure to consult with a REALTOR who specializes in the neighborhood when you consider selling.

 

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