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Brickyard Plantation Real Estate Update – 4/4/11

The Brickyard real estate market has been fairly active in the first quarter of this year.  So far, there have been 9 homes sold in Brickyard in 2011.  The median price of these sales is $370,000 and the average selling price is $360,889.  Below is a list of these homes with their sales price, separated by subsection.  Three of these home sales were bank owned properties and they are noted below.

Boone Grove:

  • 1256 Wynwood Court – 4BR, 3 1/2 BA, 2,837 square Feet – $425,000
  • 1358 Chrismill Lane – 4BR, 2 1/2 BA, 2,801 square feet – $372,000

Brickyard:

  • 1412 Madison Court – 5BR, 3 1/2 BA, 4,400 square feet – $395,000 (Bank Owned)
  • 1385 Madison Court – 4BR, 3 1/2 BA, 3,050 square feet – $444,000

The Preserve

  • 2766 Stamby Place – 4BR, 2 1/2BA, 2,370 square feet – $348,000
  • 1251 Colfax Court – 4BR, 2 1/2BA, 2,438 square feet – $360,000

Magnolia Grove:

  • 1326 Old Ivy Way – 3BR, 2BA, 2064 square feet – $285,000

Collonade:

  • 2782 Seastrand Lane – 4BR, 2 1/2BA, 2,435 square feet – $249,000 (Bank Owned)
  • 1332 Wynbrook Trace – 5BR, 3 1/2BA, 2,774 square feet – $370,000 (Bank Owned)

Sharp Reduction in Number of Brickyard Homes For Sale

Currently, there are only 16 homes for sale in all of Brickyard Plantation.  This inventory level is significantly lower than what we were experiencing in the neighborhood during the low point of this real estate market cycle.  Lower inventory is critical if sellers are to see an upswing in pricing over the next year or so.  The chart below reflects this trend of fewer homes for sale that began in 2008.

Increase in Brickyard Inventory is Likely This Spring

It is likely that we will see an increase in inventory over the next few months as more Brickyard home owners put their houses on the market to take advantage of the busy spring selling season.  We will watch this metric very closely to determine if and when we start to see a positive shift in pricing.

If I can answer any questions about this Brickyard real estate post or if you are thinking of buying or selling a Brickyard home, please contact me.  My team offers a full range of services and we will be happy to assist you in any way we can.  Also, be sure to check out our Brickyard Real Estate web page to view all homes for sale in Brickyard by price range.

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