Winter 2016 Vista Ridge Market Review
January 20, 2017
# of Closed Sales: 31
Average Days on Market for Solds: 73
Median Sales Price: $385000
# of news listings: 31
Months of Inventory Last Month: 2
At First Glance it would appear that Vista Ridge is in a slowdown; with only 31 homes being sold in the final quarter of 2016, and 56 being sold in Quarter three it is easy to draw that conclusion. However, when we look at the past, the data tells a different story. In Q4 of 2014, we saw 29 homes sell at an average of $403,626; then in 2015 we saw a drop in both transactions and price with 27 homes sold at an average of $396,776. So, this year we see the same number of transactions, but a high point in average sales price at $409,780. So while the number of transactions is lower than the preceding quarters, that is easily explained by the annual and predictable winter slowdown; with Thanksgiving, Christmas and New Years all in a row, very few people want to move during this time. However, there is cause optimism for Vista Ridge.
Historically, the Spring in Vista Ridge is one of the slower seasons, with only 13 sold last year during the first Quarter in 2016. This is likely due to Vista Ridge being an extremely family oriented community, with some of the best schools in the region; and with the spring semester in full swing who wants to move their kids from school!
The spring is the jumping off point for the Summer sales season and the summer’s in Vista Ridge is where it is at; 37 sold in Q2 of 2016 alone. The spring is the time to get the home in order and take care of renovations updates that would get the maximum return on your investment. Spring is where you start to test the waters of the market, and determine where and when you can sell your current home, as well as buy your next. So, while spring is slow on the transactions, it is jam packed full of preparations for the coming months. Spring is when it all happens.
What will you do this spring?