While examining the trends in the local real estate market, lets focus for a moment on the Spring Creek community in Louisa County Virginia. Spring Creek is a gated community with an acclaimed new golf course. The development is located in Louisa County, Virginia convenient to both Charlottesville and Richmond, Virginia. This is the Spring Creek market report for August 2008 and contains data for both single family detached and attached homes.
In August 2008 there were not any Spring Creek homes under contract.
1 Spring Creek home had a pending contract. It was listed for $282,950 and had been on the market for 15 days.
3 Spring Creek homes sold in August 2008. The average sales price of these homes was $354,186 and they had been listed for an average price of $358,815. The median price was $369,150 and they were on the market for an average of 138 days. These homes sold for an average of 98.71% of the list price.
On September 1, 2008 there were 36 homes actively listed on the market in Spring Creek. The average list price is $389,020 and the median is $380,450. They have been on the market for an average of 178 days.
In July of 2008 1 Spring Creek home sold. The sold price was $366,445 and it had been listed for $374,317. The home was on the market for 52 days and it sold for 97.90% of the list price.
What do these figures tell us? First of all there is a lot of inventory on the market in Spring Creek and the homes have been on the market on average for a long time. It does not look like the homes that are selling are going for a lot under the list price however this can be misleading. Many of the homes on the market in Spring Creek are new construction. In the current soft real estate market, many builders while they may not accept huge price reductions, may be offering very desirable builer consessions.
If you are considering buying in Spring Creek, I would love to show you this special community. Contact me and we can talk about how I can hlep you find that perfect Spring Creek home.
If you do need to sell a home in Spring Creek, it is important to price your home correctly from the beginning. I would be happy to do a free CMA to help determine what your home would bring in today's competitive market. Let me sit down with you and lets work out a strategy to ensure that your home is the one that sells.
Search all of the Spring Creek homes that are currently on the market.
Information from the CAAR mls and while deemed correct is not guaranteed.
Pam Dent, e-PRO, SRES, NHD
Real Estate III
Charlottesville, VA
434 960-0161
Charlottesville Homes
Charlottesville Horse Farms
My name is David Garono and I have been involved with Spring Creek since 2004. I started selling homes in Spring Creek and did so through July of 2007 and now I work directly for Spring Creek Land Development. The MLS numbers do not always show what is really happening. In 2008, our builders have sold 65 new homes, which equates to just over 8 homes per month. We have been bucking the current real estate trend and have been extremely successful...as a matter of fact it has been our best year ever. Spring Creek provides a great value for homeownership, a fantastic location and a wonderful sense of community. Please feel free to contact me at 434.566.1007 with any questions and feel free to visit springcreekliving.com. I am glad to help any way I can. Have a nice day!
Thank you for sharing your market statistics and commentary. You are a true professional.
David - Thank you for jumping in and setting the record straight. I agree that Spring Creek is a great community in which to buy a home, and it is an area that I am always happy to show my clients. I was on the Hauser team in Spring Creek when they were listed through the Crossroads Real Estate III office, so I am familiar with the community. It is a problem when the builders do not run their listings through the mls, because it skews the data. I will check in with you for the current figures and up date the post.
Jim - Thanks for stopping by. This is a great community and now is the perfect time to buy a Spring Creek home.