(Sun City Grand Real Estate Market Report February 2018)
Sun City Grand January Home Inventory Cut in Half
Sold listings in Sun City Grand were up 39.5% in January. That’s 60 homes sold compared to 43 last year at this time. The result was low inventory, in fact, the absorption rate was cut more than in half. 2.18% versus 4.55% in 2017. Average days on market saw a large decrease too, from 84 days last year to just 56 this year in January. Pending homes were down -18.8% and active listing down -32.3%. Few new listings have come on the market so we can expect inventory to stay low.
Currently there are 145 homes for sale and 53 pending in Sun City Grand. On average homes are selling for 95.9% of asking price. Sun City Grand is in a strong seller’s market.
Curious about what absorption rate is?
Absorption Rate/Months of Inventory: An Estimate of how fast listings are currently selling measured in months. For example, if 50 properties sell per month and there are 100 properties for sale- there is a 2 month supply of inventory before counting the additional properties that will come on the market.
If you enjoyed this article on Sun City Grand January home inventory cut in half, you also might like
Sun City Grand Year End Market Report 2017
Yearly Homes Sales Up Over 19 percent in Sun City Grand