by Craig Schaid
on Saturday, July 19th, 2014 at 1:24pm.
The number one question I get asked as a Real Estate professional is, “How’s the market?”. Of course, we are all trained to say, “It’s great!”. Well, instead of just the standard answer to the standard question, I thought I’d spend some time to really dive in, and give you some real numbers, real facts, a real window to, “How’s the real estate market in Pike Road?”.
In general, the standard answer absolutely applies in Pike Road, the market is great. It’s an emerging market in the Tri-County area that is going great! I get many calls from buyers that are moving in the near future, and they say, “I only want to see homes in Pike Road. Do not show me any homes that are NOT in Pike Road city limits.” Now, the obvious reason is the Pike Road School system set to open in 2015. That’s a big draw, no doubt. However, it also makes great real estate sense to buy your home in Pike Road on a long term equitable growth side. Pike Road home numbers are going up! As I will show you shortly, the median price is high, the price per sq ft is growing, the “days on market” is declining, and more. These are all great indicators that Pike Road is a smart investment for your family’s future.
Now, let’s dive into some facts, figures and justification for what is happening in this great Town Of Pike Road.
Below you see a reflection of the Median Price in Pike Road, AL over the past year. Not a bad rise for 12 months.
In the quartile market segments, we see prices in this zip code generally settled at a plateau, although Quartile 1 is on a bit of an uptrend in recent weeks.
Price per Square Foot
A key indicator in real estate that appraisers and agents use to compare homes that vary in size is price per square foot. As you can see below, the overall indication is the price per square foot is on the rise.
Home sales have been exceeding new inventory for several weeks. Since this is still a Buyer's market, prices are not yet moving higher as excess inventory is consumed. However, as the supply goes down and demand trends continue, the market moves into the Seller's zone, and we are likely to see upward pressure on pricing.
Days on Market
The properties have been on the market for an average of 175 days. Half of the listings have come newly on the market in the past 112 or so days.
Hopefully this sheds some light on what is happening in the market in Pike Road. The general outlook is fantastic and we are encouraged by what the next couple years have in store for this great town. You have many choices of neighborhoods that offer just a little something different. Below you will find some examples to look at:
To view ALL active listed property in Pike Road, Click Here
We’d be happy to answer any specific questions you may have on particular neighborhoods, price ranges, etc. 4 Wallz Real Estate prides itself on being the authority on Pike Road real estate. We’d be glad to discuss your plans to sell or purchase real estate in this fine community. Please call 334 318-8115 to set up an appointment.