11536 Lake Wildwood, Good Condition, move-in ready 3 bedrooms, 3 bathrooms, listed for $299,000, after 70 days on the market: What can we learn from this home?

I have looked at a lot of homes in Lake Wildwood over the course of the summer under $300,000. Some under $250,000 were fixers, and they all sold. Some were priced between $250,000 and $275,000, and they were a mixed group of some smaller homes on steep lots that were in good condition, and larger homes that were on better lots, and needed a bit of work. There was a every combination of size, floor plan, condition, and driveway, but the most important information is, over the course of the summer, every one of them sold, and most of them sold within 30 days or less.
During most of the summer I didn’t look at homes priced between $290,000 and $300,000 because there was plenty to see priced under $290,000, but recently inventory has declined under $290,000 to such low numbers I have started looking at the very top of the under $300,000 price range. Of course, you might expect to see homes that are a little nicer, and this one surely is! But this home still hasn’t sold yet. Why? Is this home over priced or are we here at the market report noticing the first signs of a changing market. All summer it has been a sellers market with homes sold as quickly as they were listed, but now, even with the declining inventory, it appears that the number of buyers had also declined, and the net effect is homes that should have sold are sitting empty and unsold. We will be watching this as we go into October and November.

Author: gordon

Nevada County Resident since 1988. Painting and Decorating Contractor 1985-2003 Nevada County Realtor Since 2004 Member of the Nevada County Masters Club (top producing agent) Every Year Since 2004

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