The I’On real estate market isn’t showing much sign of slowing down this summer! Since my last report to you on July 5th, there have been 6 additional I’On homes close, bringing the total to 44 sales in 2013. Below are the homes that have closed since July 5th:
- 48 Sanibel Street – $435,000
- 3 Robert Mills – $1,060,000
- 154 N. Shelmore – $725,500
- 27 Frogmore – 1,500,000
- 71 Robert Mills – $855,000
- 39 Perseverance – $926,000
For more detail on these home sales and all other I’On homes sold this year, click here.
I’On Home Inventory Remains Low and Prices are Gaining Traction
Currently, there are only 29 I’On homes on the market. This represents less than 5% of the homes in the neighborhood….Quite a change from a few years ago when approximately 15% of I’On homes were for sale!! The lower inventory and increased buyer demand is welcome news for those who have been waiting a long time for some price appreciation. The average selling price/square foot in I’On this year is up 18% from 2012 to $274.
This is the first year we have seen an increase in this metric since we were in the middle of the “boom” eight years ago. This is in large part due to many more expensive homes (above $1M) selling in I’On than we have seen in many years. These homes typically command a very high price/square foot due to location, custom finishes, etc. My July 5th update addresses this high-end segment of the I’On real estate market in greater detail…
I fully expect to see continued strong activity in the I’On real estate market as we head into the fall months. Stay tuned for my next update in about 30 days!!
Thinking of Selling, or Just Have Questions? Call Me…
Please give me a call if you have any questions about this post. If you are thinking of selling, please contact me to learn more about my marketing program for your home. I have sold dozens of homes in I’On over the years and have an intimate knowledge of this community, what buyers are looking for, and how to get your home sold. Have a great week and I hope that you continue to take advantage of all the special activities and events that I’On has to offer!!