Home sales on Snell Isle are steady. The absorption rate of 8.5 shows a small advantage for home buyer but considering the price range it is expected for homes to take a bit longer to sell. What this means is that buyers have more inventory to consider and may not feel as much pressure to make a quick decision.
While the less expensive homes get picked up in a matter of days, it is not unusual for homes over $1,000,000 to take between 6 months to a few years to sell depending on the property. What this means for sellers is that if you want to sell more quickly take a close look at staging, curb appeal, and the marketing presentation for your property. Great photos and good exposure will make a difference in how quickly your home sells.
Recent Sales
The third quarter of the year saw 19 closings on Snell Isle, three of which were condos. The median price was $725,500, with a high of $3,305,000 and a low of $273,000.
These properties ranged from 987sqft (a 2 bedroom 1 bath home) up to 5,800sqft (a 4 bedroom 5 1/2 half home).
These homes sold fairly quickly, only sitting on the market for about a month before getting a contract.
Single Family Homes Sold
| Price | Size | $/Sqft | |
| median | $865,000 | 2,523 | $322 |
| high | $3,305,000 | 5,865 | $781 |
| low | $406,000 | 987 | $241 |
Condos Sold
| Price | Size | $/Sqft | |
| median | $283,000 | 1,788 | $176 |
| high | $315,001 | 1,788 | $230 |
| low | $275,000 | 1,230 | $154 |
Properties for Sale
Comparing those numbers to the homes and condos still on the market is surprising. There are 53 properties for sale as of this writing (10/17) and they are almost twice as expensive as the properties that sold. These properties have been on the market for a median of 156 days, with a high of 956 and a low of 6 days.
As you can see below, they are both larger and asking for more per square foot than the properties that sold.
| Price | Size | $/Sqft | |
| median | $1,530,000 | 3,965 | $399 |
| high | $3,949,000 | 7,029 | $682 |
| low | $469,000 | 825 | $240 |
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