2016 turned out to be a pretty fair year for real estate sales in the Mirabel Club. 14 houses were sold during the year ranging in price from $1,185,000 to $2,255,000 with the average sales price per square foot being $373. This compares to 2015 when 10 houses were sold ranging from $1,075,000 to $2,500,000 and an average of $358 per square foot. As has been the case historically, the vast majority of home sales activity for both 2015 and 2016 occurred in the first 6 months of the year with 8 homes selling during that time in 2015 (80%) and 12 homes in 2016 (86%). Homesite sales for 2016 were pretty flat year over year with 9 lots selling ranging from $112,000 - $900,000 versus 9 lots in 2015 ranging in price from $205,000 - $650,000.

The year 2017 should be an interesting year for real estate sales now that the divisive election is finally behind us. Based on the optimism about the economy shown in the stock market recently, we could have a break out year with many buyers having been on the sidelines for some time now waiting for the right time to purchase their “place in the sun”. And homes available inventory will be at nearly an all-time high with 21 currently active in the multiple listing system and several others set to come on the market in the coming month. That compares to only 15 homes on the market for most of 2016. A larger supply of available homes means more choices for discriminating buyers which will hopefully be a good for sales.

Until next time ...