When looking at the September 2020 results for PebbleCreek resales, there are several remarkable indicators – remarkable in the sense that they are highly unusual taken on their own.  But, even in this crazy pandemic year, if we take a step back and look at averages over the last 4 years, 2020 resales are well within typical patterns.

No one I know – and I personally have been working as a PebbleCreek Realtor for almost six years – has seen our inventory as low as it is was at the end of September.  29 Homes.  That’s it.    As a comparison, last year at this time, there were 62 available homes.  But on the flip side, as of the end of September there were an astounding 46 homes under contract and waiting to close – almost double the 26 that were under contract at the same time last year.  Taken alone, September inventory seems completely out of whack, when in reality we may simply be seeing shifts in sales as the market responds to travel restrictions.

Here is the Inventory Graph for the last few years:

Average Price continues to grow.  For most of the year, on a month to month basis, average price has outpaced any results from the last four years.  As a result, our current year to-date average sales price for PebbleCreek resales is the highest it has ever been and, on the same year to date basis, homes have sold for 98% of list price.

Here is the average sales price graph for the last few years. Average sales price for 2020 is currently $400,163.

There were 17 closings in September – bringing our year to date number of closings to 202 as compared to 227 at the same time last year; this is an 11 % decrease.  However, the four year average for this point in the year is 205 sales. Comparing our current year results to average results, we are trailing by just 3 sales – a difference that we are likely to see more than made up in October. 

On average, there are about 23 closings in October.  Since we have 46 homes under contract going in to the month, it is not a stretch to think that our October closings will exceed average. 

Whether you are buying, selling, or simply keeping an eye on the PebbleCreek real estate market, the single biggest issue is inventory.  Inventory is historically low and obviously that impacts both the number of homes a buyer can see as well as the overall pricing of the market.  On the fence sellers may find this to be a good time to list a home and buyers need to be VERY aggressive and prepared with proof of funds and prequalifications.

Homes priced under $500,000 are in particular demand; only half of the current inventory is at or below that price point.

Considering all of the cancelled travel and health uncertainty we have endured since March, this year’s results continue to back up what those of us who live here know – PebbleCreek, with its convenient location and top notch amenities, remains an “in demand” community for 55 Plus active adults.