I’On Real Estate Update – 8/22/14

The I’On real estate market continues to be very strong in 2014.  Prices are up and the average number of days it takes to sell an I’On home is down.  Very good news if you are selling your home!  Here are some key data points from this year and the percentage change from the same period last year:

2014 YTD:

  • I’On Homes Sold – 52 – Up 6%
  • Median Price for Homes Sold – $883,450 – up 18%
  • Average Selling Price/Square Foot – $293 – up 7%
  • Average Days on Market – 89 – down 26%

In addition, there are currently 9 I’On homes that are under contract, pending closing.  These are likely to close in the next 30-60 days and the statistics for these will be included in a future post.  If you would like additional information on I’On home sales this year, please click here.

Sellers Receiving a Higher % of Asking Price…

This year, I’On home sellers are receiving 96.5% of their final asking price at closing.  This is the highest percentage sellers have received since 2005, when the market was near it’s peak.  This is further evidence that we are in a strengthening sellers market in the neighborhood.

PercentageAs we move into the fall and winter season, we may see some reduction in this percentage as it does become more challenging for sellers during the slower months.  However, this trend is very positive!!

I’On Inventory Remains Low…

There are currently 29 I’On homes for sale.  While this is about 50% higher than what was on the market this past spring, we are still at very low levels compared to the number of homes for sale in previous years.  In addition, inventory usually climbs during the summer months, so this rise is not unusual.  Below are some details on the I’On homes for sale:

  • Homes for Sale – 29
  • Median Asking Price – $1,095,000
  • Asking Price/Square Foot – $323
  • Average Days on Market – 111

Thinking of Selling, or Have Questions?  Call Me!

Please give me a call if you have any questions about this post.  If you are thinking of selling, please don’t hesitate to 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 weekend!

 

 

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