Buyers and owners alike continue to love Palmetto Trace. It's convenient location, golf-cart friendly neighborhood and community pools are just a few of the reasons why. In this healthy real estate market, it isn't any surprise to see Palmetto Trace values doing well.

I pulled some numbers to see what was happening. To best understand the charts below, make sure you understand these three terms:

Active Listings - This line in the charts below represent how many homes are for sale at any given time.  If the line goes up, there are more homes for sale.  If the line goes down, there are less.

Sold Listings - Represented by the black line in the charts below, this shows us just how many homes are sold/closed.

Months Inventory - This number is essential to understand.  The first thing to know is that this figure represents just how long it will take to sell all the homes that are on the market at the current RATE that they are selling.  5 - 6 "months of inventory" represents a neutral, healthy real estate market.  Anything under 5, generally means a seller's market because there are fewer homes for sale.  Buyers have fewer choices while prices tend to stay strong in a seller's market.  Any number of 6 becomes a buyer's market... the higher the number, the more extreme of a buyer's market it becomes.  It a buyer's market, sellers have more competition since there are more houses for sale and prices soften or decline.

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The chart above represents activity for detached single family homes only. It has been a seller's market, represented by the grey bars, until March of this year. For most of 2017, we have seen it bounce between a pretty normal/neutral market and a bit of a buyer's market. 

This chart (above), gives us a glimpse home prices. The average SOLD price per square foot has been trending up since the beginning of last year. Palmetto Trace has quite a variety of floor plans, year built and design so use this as a general guide only. 

The townhomes in Palmetto Trace continue to be popular. Look above to see what has been a STRONG seller's market since January of last year. 

There is a little less variety in the townhomes than the detached single-family homes, but there are still some factors that affect pricing. The chart above shows that the average SOLD price per square foot has remained relatively flat, but prices have bounced around a little. Some units have had substantial renovations, new mechanicals or even roof replacements which can account for the differences. 

Case Study | Closing Agent Almost Costs Seller Her Closing

In real estate, it matters who you work with... it really does.

Read More