Stonegate is a beautiful community in Lumberton. Custom homes are nestled on ample lots amongst winding roads and big, lovely mature trees. Prices start in the high 200's and quickly move into the 300's. Its the type of neighborhood most people dream about.
So you might think this is a neighborhood where it is definitely a sellers market. Not true according to the current market statistics from the Beaumont MLS.
Since January 1, 2008 there have been five sales that have closed. One home is currently pending with an option. There are seven homes for sale.
Remember the last post on buyer and seller markets? To calculate the months supply of inventory in a neighborhood, you take the number of sales over the past six months and divide by six. This gives you the sales per month. Then you take the number of actives and divide by the sales per month. That gives you the current months supply of inventory.
Do you like graphs? Well, here are those figures on a graph.
Right now the buyers are in a stronger position than the sellers in Stonegate. The days on the market for the five closings averaged 152 days. That's about five months from listing to sale. One home stayed on the market over 300 days but another sold in only 32. Sellers are holding out for their asking price. The average sold price was 95% of the listing price. So it may take a few months to sell but sellers are getting most of their asking price.
Want to know more about Stonegate? Call me, email me or comment here on the blog. Sharing knowledge about our local real estate market is the purpose of Southeast Texas Real Estate Talk. Now you know. The scales are tipped in favor of the buyers- at the present time- in Stonegate.
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