Here’s a look at the top 20 subareas in town based on number of sales YTD mapped against their current count of active sales and under contract homes.
Bottom line: inventory in these subareas is lower than I expected to see, with the exception of Banning Lewis Ranch. The low inventory across the board seems to be helping holding pricing up.
Here’s where BLR stands right now.
The average CPLP for Banning Lewis Ranch is 0.9953. The average CPOLP is 0.9647. The average DOM is 44.2.
What this means is that homes in the subarea are selling 3.53% below their original list price. It looks like they are having to drop their prices just under .5% to go under contract, then getting contracts about 3% below asking price at the time of contract.