Blue Heron April 2016 Real Estate Update
The Lafayette neighborhood of Blue Heron continues to have some dramatic action when the price per square foot is below $160. However, crawl above that and the homes sit on the market. This is unusual since the large homes across the street are regularly selling for $180-$200 per square foot. But evaluating the sales this month, the home on Columbine sold for $158 per square foot and the home on Lois for just $125 per square foot, which is quite a discrepancy compared to the former.
One reason that is likely influencing that discrepancy are the sizes of the homes. There is a general rule in real estate that the larger the home the less the price per square foot. That is because things like kitchens and bathrooms are the most expensive, which is found in every home no matter the size. When increasing the size of the home there are not often more kitchens and other expensive installations. Rather they increase the number of bedrooms, the size of the living space, include a dining area and finish the basement. Its not expensive to hang drywall and add carpet, so larger homes decrease in the price per square foot.
There is indication that the per square foot is increasing in Blue Heron seen in Poppy Ct and 2412 Ginny Way. Both are about 5000 square feet. Therefore breaking down their price per square foot brings them to about $173 per square foot. There is also a strong demand for these homes when they meet market value. That can be seen in the two that sold. On average they were on the market 4 days each before going under contract. Find market value and your home should sell rather quickly!
Now Under Contract
|RES||$849,700||6651||1779 Poppy Ct||5/5||Blue Heron Estates|
|RES||$899,000||5205||2421 Ginny Way||5/5||Blue Heron Estates|
|RES||$950,000||5426||2412 Ginny Way||5/5||Blue Heron Estates|
|RES||$1,145,000||5564||1767 Casey Ct||5/5||Blue Heron Estates|
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April 2016 Homes Sold
Single Family Homes
|Type||Price||SqFt||Address||$ per SqFt||% SALES to LIST||Days On Market||Days Till Contract||Beds Bath||Community|
|RES||$750,000||4750||2537 Columbine Cir||$158||103%||4||3||4/4||Blue Heron Estates|
|RES||$815,000||6495||1745 Lois Ct||$125||97%||34||5||5/5||Blue Heron Estates|