Nakoma sold home prices have increased 10% over 2017 with an average price per square foot increasing to $220 vs. $200 sq.ft from last year. Mainly this is due to high demand and low inventory. We find that the number of sales has declined 39%. This decline is due to lower inventory, but the average days on the market has sped up by 16%.
| 2017 | 2018 | % Change | |
|---|---|---|---|
| Houses Sold | 41 | 25 | -39% |
| Cost/Square Foot | $200 | $220 | +10% |
| Average Days on Market | 49 | 41 | -16% |
For the full home sales details, please see:
Data is for those properties that sold on MLS only.
As fall kicked off, we saw inventory go up, or existing homes remaining on the market longer, making it a great time to buy. I’m telling everyone, if you can buy now, you will beat the Spring competition of out of town buyers. Fall/Winter is a great time for locals to buy.
Feel free to contact me if you’d like a current market price analysis done for your home – I do a few of those a week for homeowners with regards to their specific property and gives a good sense of what your house would sell for in the current market. Keep in mind, this is different than city assessed value and appraised value. While those do go into consideration, market value is in real time so takes into account supply/demand as well as the sellable features of your home and any remodeling you’ve done.
Feel free to contact me here and I am happy to provide some insight. I just got an accepted offer for a client on 704 Huron Hill!
Also, I am working with an out of town couple with 3 young children looking to purchase a larger home in Nakoma, so if you or any of your neighbors would consider selling, please let me know as we have exhausted the properties on the market.
Lastly, As some of you may have noticed, I switched brokers to Keller Williams this year. After 12 years in the business, I wanted to do more personal branding and Keller Williams allows me to do just that. It also provides a very strong national brokerage to back me so I can keep up with the latest and greatest real estate trends. So instead of my old sign around town, you’ll start to see The Miller Real Estate Group. My husband, Hershel Miller (who is a digital and social marketing guru) has come on board with me to give my clients an even bigger marketing push when selling. We are very excited for 2019!
Thank you!
Jamie Miller
