As we delve into July's real estate trends for the 55+ Active Adult market, we're bringing you the latest insights into pricing, sales activity, and inventory levels. This update is designed to provide you with a comprehensive overview of the current market dynamics and help you make informed decisions.
Price Trends
The Active Adult market remains stable, with the Franklin Loan Center(FLC) Active Adult Price Index showing an average price of $600,141 for a 1,900 square foot home across eight communities. This marks a 4.6% increase from last year. Individual developments vary, with Trilogy seeing an 11.4% increase, while Four Seasons at Terra Lago experienced a 5.2% decrease.
Sales Activity
In July, sales remained steady at an average of 64 units per month, consistent with last year’s figures. The total dollar sales for the past three months averaged $43 million per month, although this is $4 million less than the previous year.
Inventory Levels
Inventory has risen significantly, with 179 active listings at the end of July, a 30.6% increase from the 137 units available last year. The “months of sales” ratio was 2.8 months, compared to 2.1 months a year ago. This balanced ratio indicates stability in the supply and demand dynamics, helping to keep prices steady.
Days on Market
Homes in these communities averaged 62 days on the market in July, down from 67 days last year. The time on market ranges from 44 days in Trilogy Polo Club to 80 days in Del Webb RM, reflecting the variation in market activity across different communities.
Price Discounts/Premiums
In July, homes in the active adult communities sold with an average discount of 2.1%, maintaining the same level as last year. Discounts ranged from 0.6% in Four Seasons at Terra Lago to 3.2% in Trilogy.
A big thank you to Walter Neil at Franklin Loan Center for providing these insightful reports. His expertise is invaluable in keeping us updated with the latest market trends. Walter is also available to assist with any loan needs, ensuring a smooth and informed home-buying experience.
To view available listings and stay updated on market details, visit our website. We’re here to support you in finding the perfect home and navigating the real estate market.