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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 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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