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.
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
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.