photo credit: Maproom Systems

Just a quick update on Edgebrook and Sauganash absorption rates for single family homes.

In Edgebrook, 21 homes have closed since January 1 of this year, with a median sale price of $458,500, and an average sale price of $509,685. With 90 homes currently for sale on the market (this does not include homes that are not listed in the MLS, e.g. most unrepresented sellers), this puts us into a supply bracket (MSI) of 20.6 months.

In Sauganash, we’ve seen 11 closed homes since the beginning of the year, with a median sale price of $607,000, and an average of $607,136. 76 homes are currently on the market for sale (again, excluding FSBO’s that are not in the MLS) which provides us with a supply of 33 months (ouch).

This is making me feel a bit uneasy, because this is the time of the year when inventory traditionally moves. But, we still have a few months before the end of the summer.

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