Land Park Real Estate Market Update: April 2009
The majority of sales in Land Park are still non-distressed sales. Perhaps that’s because there just aren’t that many foreclosures and short sales on the market. While that should spell good news for prices, Land Park continues to remain sluggish.
A total of 13 homes sold in the area in the month of April of which 2 were foreclosures and 11 were non-distressed homes. Overall unit volume is down 13.3% overall year over year. Foreclosure sales remain the same, but non-distressed home sales fell 15.4% for the same period.
Sold price per square foot is currently at $231.12 which is down 16.6% from a year ago. The high last April was $277.22. Average sales price in April is $340,900 down 12% from last April’s $387,633. Median sales price is now $350,000. Homebuyers as a result have afforded on average 5.5% bigger homes year over year.
Inventory is at 4.5 months based on the last 12 months of sales and 4.9 months based on the last six months of sales.
