Melrose Village Real Estate Update

We received this update on real estate in Melrose Village from local realtor Victoria Massengale of Keller Williams:

October 2011

It looks like Real Estate is starting to move again in Melrose Village!  In the month of October, we had a total of 27 homes listed with 4 of those closing escrow.  Here is a breakdown of homes that were Sold, went into Escrow and are still Active:

In Escrow

Eight homes are currently in Escrow.  They range from $400,000 to $1,149,000 and an average price per square foot of $475.  I will have no information regarding the actual sale price until the homes close escrow.

Active

We have fifteen homes currently on the market.  Of those, 4 were listed in the month of October.  The average days on market for the remainder of the homes is 71 days.  The average price per square foot is $498.72.

Sold

Obviously, what everyone really wants to know is what sold and for how much!

Property     Days on Market     List Price       Sale Price      Sale Price psf

543 N. Gardner……….25……….$795,000……….$728,000……….$456.43

752 N. Detroit…………12……….$889,000……….$904,000……….$456.80

726 N. Vista…………….85……….$899,000……….$850,000……….$566.67

838 N. Gardner………20………$1,149,000……..$1,110,000……….$555.00

The average days on market for the sold homes is 36.  Compared to the Average Days on Market of 60 for the month of September, this is certainly a move in a positive direction.  The average price per square foot is $507.77 compared to September, which was $472.83.  As you can see, both the Vista and Gardner properties sold well above market price per square footage. 

All good news for Melrose Village!

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