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Belle Hall Market Update – 3/18/08

So far this year, 11 homes have sold in Belle Hall. Below is a breakdown of sales by neighborhood:

Hibben – 5 sold – avg price $650,274 ($230/sq ft)
Battery Point – 2 sold – avg price $369,000 ($178/sq ft)
Veranda/Rice Bay – 4 sold -avg price $309,475 ($155/sq ft)

As of this same date last year, there had been 14 sales in Belle Hall, so we are slightly off of last year’s selling pace. There are 5 homes that are under contract, pending closing. A few of these will likely close before the end of the month which may put us back on track for the 1st quarter. As you may recall, 2007 was a positive year for the Belle Hall market as unit sales were up 9.7% over 2006.

Currently, there are 58 homes for sale in the neighborhood:

Evian – 6 homes – $1,021,034 ($279/sq ft)
The Islands – 3 homes – avg price – $919,333 ($286/sq ft)
Hibben – 27 homes – avg price – $809,005 ($259/sq ft)
Battery Pt – 6 homes – avg price – $544,083 ($179/sq ft)
Veranda – 9 homes – avg price – $335,522 ($166/sq ft)
Rice Bay – 4 homes – avg price – $294,375 ($182/sq ft)
Courtyard – 3 homes – avg price – $309,333 ($174 sq ft)

We have essentially the same number of homes for sale in Belle Hall right now as we did on this date in 2007.

I will provide you with more updates in the next few weeks. In the meantime, feel free to go to http://www.bellehallhomeinfo.com/ to see all of the available homes in the neighborhood. These include the homes that are under contract, but have not sold.

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