A couple of interesting points to make after collecting and viewing the most recent Walton monthly data for single family detached resales.
The normal shape of the line chart representing the number of Walton Active Listings in all price ranges changed in 2020. The typical cyclical trend is represented by a steep increase early in the year, peaking early to mid summer, and then slowly declining through the remainder of the year. This year’s activity still had the mid-year bell shaped curve one would expect however it never reached the early summer highs of previous years. The later half of 2020 thus far has shown the same general rate of decline although reaching a low not seen over the past four years. The same narrative applies to the higher value ($600k+) Walton market.
New construction Active Listings (that includes under construction and to be built) numbers were fairly consistent from Oct ’16 through Oct ’19. Since then the number of Active Listings have been declining.
Comparing the number of Active Listings (inventory) for the month of October, going back to 2015, it appears that seller’s of higher value ($600k+) homes had a more difficult time attracting buyers. Specifically, about 65% of all Active Listings in Oct ’20 were over $600k compared to the fairly consistent 45% experienced in the previous five Octobers.
Where to look if planning to make a Walton purchase in East Side, Mount Bethel, Sope Creek or Timber Ridge:
- under $600k in Mount Bethel and East Side
- $600s in East Side and Sope Creek
- $700s in Mount Bethel and Sope Creek
- $800s – $1m in East Side and Sope Creek
- $1m – $1.5m in East Side and Sope Creek
- over $1.5m in Sope Creek
Buyers not finding their ideal Walton home should approach Brady to discuss their situation. Perhaps his exclusive hyperlocal focus can best prepare the buyer to make a successful offer on a new listing as well as to identify potential off market properties.