Big Shortage of Homes in Sun City Grand
Sun City Grand Real Estate Market Report May 2021
In May, low inventory continued in Sun City Grand. There were 34 homes for sale, with 30 of them pending. So, almost half of the homes on the market in the community were under contract. Wow, that a lot. As a result, homes that were priced right went under contract quickly. I had one client who offered $20,000 above the asking price to get the home they wanted. This included a cash offer with no contingencies except an inspection. Some buyers are even waiving that and adding an escalation clause. This means that they will pay so much over the highest offer up to a certain amount. So, for example, a home is listed at $300,000, the escalation clause might say: “Buyer will pay $10,000 more than the highest offer up to a purchase price of $330,000.” Ok, now let’s dive into the latest Sun City Grand Real Estate Market Report May 2021.
What’s the housing market like in Sun City Grand? Strong Sellers Market
May Housing Numbers
In May there were 34 homes for sale of which 30 were pending. So, what was the hottest price range in May? The answer is homes from $300,000 to $400,000.
6 months housing snapshot
402 homes sold in the last six months. On average, homes sold for 101% of the asking price with .5 month’s inventory. A balanced market is 6 months inventory. Prices ranged from a low of $277,000 to a high of $1,189,000.00. The average number of days on the market was 44 during the last 6 months. On average, homes sold for 100% of the asking price. Keep in mind some sold for more and some less. The condition of the home and location compared to similar homes are always key factors.
For more information and a downloadable report about the housing market in Sun City Grand, please refer to the market report below. For the purposes of this report, active listings are homes that are not under contract taking backup offers (UCB). In our post Covid19 market, those listings, for all intensive, purposes are pending. And, yes, most likely sold.
