It is very important to have all the correct information before you make the huge decision to buy, sell or rent. We know this community very well and have helped a lot of families here. We study it a couple times a week and would be honored to help you reach your real estate goals and needs.
As of today (November 13, 2008 12 PM there are 9 active homes in Cedar Lakes (-2 from last week) and 6 homes that are currently under contract (+2) and 0 homes that have sold in the last 30 days.
Here’s the breakdown of all active listings in MLS:
*Short Sales and over priced regular sales are driving the days on the market number high.
Condos- 6 - Average DOMP - 101 days
Cedar Lakes A - 2 (1 regular sales)
Christopher at Cedar Lakes - 5 (2 short sales, 1 bank owned, 2 regular sale)
Townhomes- 3 - Average DOMP - 69 days
Carr at Cedar Lakes - 1 (regular sale)
Cedar Lakes - 3 (2 short sales)
NEW LISTINGS
According to MLS, there was 2 new listing this week.
UNDER CONTRACT
According to MLS, there are 3 townhomes (1 short sale, 1 regular sale, 1 bank owned) and 3 condos under contract (1 short sale, 2 regular sale)
4256 Wheeled Caisson Sq - (12 DOMP) TH 3bd/3ba
12491 Hayes Ct #202 - (23 DOMP) Condo 2bd/2ba
4338 THOMAS BRIGADE LN - 16 Days On The Market (DOMP) TH - 4bd/3ba
12437 ERICA HILL LN - (90 DOMP) TH - 4bd/3ba
12461 HAYES CT #203 - (41 DOMP) Condo 2bd/2ba
4310R CANNON RIDGE CT #90 - (218 DOMP) Condo 2bd/2ba
I will have the final numbers for these once they close
SOLD
According to MLS, 0 homes have sold in the last 30 days .
Fairfax Condos Sold for 2007 vs. 2008
Fairfax Townhomes Sold for 2007 vs 2008
| 2008 | 2007 | % Change | |
| Total Sold $ Volume | $13,514,790 | $17,929,266 | -24.6% |
| Avg. Sold Price | $409,539 | $484,575 | -15.4% |
| Median Sold Price | $374,000 | $410,000 | -8.7% |
| Total Units Sold | 33 | 37 | -10.8% |
| Avg. Days on Market | 81 | 87 | -6.9% |
| Avg. List Price for Solds: | $432,953 | $515,425 | -16% |
| Avg. Sale Price as a percentage of Avg. List Price: | 94.59% | 94.01% |
EXPIRED or WITHDRAWN
There has been 1 listings that have been taken off the market in the last 30 days.
RENTALS - No change since last week
There are currently 5 townhomes and 4 condos for rent
3 townhomes have been rented out in the past month.
If you need any help finding a rental or listing your condo for rent, please contact us.
We will take care of all the work for you and do background checks on the applicants to make sure they are qualified.
OBSERVATIONS
Right now it looks as if there are a few short sales here in Cedar Lakes. Home owners do not worry about these. There is such a small chance these will even sell. Eventually they will just be foreclosed on and sold. Most realtors do not want to work wiht short sales because they are such a hastle and something like 1 in 20 get closed.
Now I do know I am about to contradict myself here but I do know one of the people short selling their condo in the new condo section (Christopher at Cedar Lakes) and I am pretty sure the bank has agreed to sell it at this price. This rarely happens but when it does short sales have a higher percentage of closing. It is a 2bd/2ba very nice condo. If you are interested in seeing this unit please contact me.
Not much has been selling in the Cedar Lakes area except for the older condos. Owners there have some equity to work with and can afford to sell and then buy their next place at a low price.
I do expect to see a couple more townhomes come on the market soon. There are some currently on the market that are extremely overpriced and are going to continue to sit on the market. These owners either are upside down on the mortgage and are about to be short saled or foreclosed on or they are just not listening to what the market is telling us their house should be priced out.
Keep checking back each week for updates on Cedar Lakes. Once the 6 under contract close, I will have the final numbers on here.
Disclaimer: Information was gathered from the MLS and is deemed reliable but not guaranteed.
