The neighborhood in has picked up a bit in the past six months. There were seven sales closed since July 1, 2009 and there are currently three pending sales and two active listings. For the most part, homes are selling quickly and at prices at or near their asking price. That is comparable to the seven closed sales during the first seven months of 2009.
The two active listings on Tenby Terrace and Mansfield Dr. are very different properties. The Mansfield Dr. home is one of the majority of homes built by Dame Construction, and has lots of square footage on a larger lot. The Tenby Terrace home is part of a handful of homes in Bettencourt Ranch built by Castle Construction on smaller lots. This home came on the market originally at $650,000, then the price was raised to $850,000, and ultimately reduced to $799,000 where it is listed today. The thing they have in common is that they have both been on the market for a long time relative to the other homes in Bettencourt Ranch (175 days and 207 days). They are both listed at approximately $328 per square foot also.
The three pending sales are listed at an average price of $839,333 or $279 per square foot. They were sold quickly, five days on average. The Nottingham Dr. property is a short sale.
The seven closed sales sold for an average price of $871,429 or $264 per square foot, which was 97% of the average asking price. These homes also sold quickly, in 24 days on average. 4221 Nottingham Dr. was bank owned. The other sold homes were not distressed (REO or short sale).
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