Wednesday, August 29, 2012

Davidson housing market

Active Late Spring Produces Solid Summer in Davidson
After lagging much of the lake area in early spring, Davidson's housing market saw a solid flurry of activity in June and July. As we forecast in late May, showing activity had picked up, and we anticipated that the summer would see a return to active conditions in the area. The area recently saw its first million dollar home go under contract for the year, a 1.3 million dollar Karl Plattner built home, under contract jointly by I.J.'s Juile Pfeffer and Emily Duke.

Sold activity during the summer has improved, with 13 homes in the 500-999k range closing through mid-August, after seeing only 7 sell in the January to May period. This total, coupled with the 11 homes currently pending, should bring Davidson back in line with last year's solid totals in the luxury price range.

Inventory continues to remain low, actually showing a decrease from 76 to 64 units from May to August, a result of improved sold and contractual activity. Solds in River Run lag last year, but have closed the gap as well in recent months with 4 more pending sales currently.   

Showings in Davidson have trended upward and above last summer over the past 60 days, with the average luxury home seeing at least 1 showing per week in the 500-999k range, while the range over 1 million has been sporadic with the exception of the pending contract mentioned above.     

Price       Actives     Pending      Shows/house   Sold Summer 2012      Sold '11

500-999k       53        10                4/month            13                           12 
1m +             11          1             1 per 60 days        0                              0

            Davidson Wood                      Green Built Village Area             Updated Davidson

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