Belle Creek Existing Home Sales- Year Over Year Comparison August 2011

Belle Creek Existing Home Sales- Year Over Year Comparison August 2011 by Jennifer Prestwich, your Belle Creek REALTOR®

 

Home sales in Belle Creek have been slowing down in recent months.  This is typical as most markets reach their height before the school year starts back up in August.  Many families plan their moves to coincide with the summer so that they are starting the school year after they have gone through their move.

Year over year, number of existing home sales have taken an interesting turn:

  • In the past 12 months, there were 17 homes sold.  This is up year over year from 15 from August 1, 2009-August 1, 2010.
  • There are currently only 5 existing homes available for sale.  This includes Oakwood Spec Homes that are already built, but not the “dirt-start” Oakwood Homes in Belle Creek.
  • There are 2 homes under contract.  Of the under contract homes, 1 is an Oakwood Homes Spec Home, the other is a short sale.

The average sold price in Belle Creek over the past 12 months was $172,000.  This is a drop year over year from $188,000.  There are a few factors that play a role in this price drop.  Last year at this time, we had just witnessed the end of the $8000 first time home buyer and $6500 repeat home buyer tax credits.  This helped bolster sales and home prices, especially in mixed use communities like Belle Creek.  The continuing clear-out of distressed properties also affects Belle Creek home prices over the past 12 months.

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