Nov 16, 2014
TREAD index (measuring total amount spent on home purchases over a trailing 12 month period) continues to increase, ending October with a resounding 142%. Four sales in October helped bringing the year to date sales to 69, compared to 59 in the same period in 2013 and 45 in 2012. Average sale price year-to-date, however, decreased from September to $902,000. All this points to a healthy overall market in Mountain Lakes, where sales are up and average prices directly tied to the mix of specific homes sold.
Next update will be in January, where we will review the overall trends for 2014. Happy Thanksgiving!
Aug 12, 2014
How do you assess the health of the Mountain Lakes real estate market? Average Sales Price - Helpful, but no home is "average". List to Sale Price – Doesn’t take into account whether the home was realistically priced to begin with.
Overall market health can be shown by the total amount buyers spend to purchase homes in our town. The proprietary Cassidy Mountain Lakes Total Real Estate Aggregate Demand (TREAD*) Index. TREAD index tracks the trailing 12-month sum of real estate purchases, is updated monthly and is indexed against the January 2013 value.
* - Total Real Estate Aggregate Demand Index (July 2014 = 130%, Jan 2013 = 100%)
What the TREAD Index tell us? As of July 2014 the total value of homes purchased in town during the previous 12 months was 30% higher than the index baseline date of January 2013 (which measured the value of homes purchased during 2012). Remember, the Index is designed to measure a full annual cycle of home purchases, so it reflects the differences in home buying patterns during all seasons of the year.
So there was a 30% increase in the sum purchase price of all homes – does this mean the prices went up by 30%? No, in this case the biggest driver was an increase from 51 (2012) to 70 (12 months ending July 1, 2014) home purchases in Mountain Lakes.
Check back periodically to BestofMountainLakes.com as we further review home sales data and try to find the trends that can help you buy or sell your home.