Your Investment in River Run is Still Solid Compared to The Point and The Peninsula
November 14, 2008
On a recent day showing homes in The Point, I got this bad feeling about the market there. Granted, the current market in the Charlotte Region will give most anyone a bad feeling right now, but this was a worse feeling. So the next day I sat down at the office to do some comparisons of the Three Country Club Communities of Lake Norman to see if my hunch was right. Some of these numbers can be quite frightening if you currently own property in The Point or The Peninsula . . . but if you are currently invested in property in River Run, you should feel relieved.
As of Wednesday, November 12, 2008 these are the current stats on these three commmunities:
The Point: Has a 40 Month Inventory of Homes For Sale which translates in to a 2.5% chance of selling in a given Month and a 26.20% chance of selling within 12 Months.
The Peninsula: Has a 16.8 Month Inventory of Homes For Sale which translates in to a 5.95% chance of selling in a given Month and 52.12% chance of selling within 12 Months.
River Run: Has a 7.41 Month Inventory of Homes For Sale which translates in to a 13.49% chance of selling in a given Month and 82.43% chance of selling within 12 Months.
Obviously Real Estate is an Ever-Changing business so these numbers will change, but a 7.41 Month Inventory is well below the local, state and national averages and says a lot about how Solid of an Investment River Run is in a very dismal economy.
Below are some other numbers on these communities compiled from MLS:
River Run
| Active – 41 Properties Found | |||||||
|
Square Feet |
Bedrooms | Full Baths | Half Baths | List Price | Sale Price | Days On Market | |
| Min | 1300 – 1700 | 2 | 2 | 0 | $ 174,900 | $ 0 |
2 |
| Avg | 3500 – 4100 | 4 | 3 | 0 | $ 666,105 | $ 0 |
182 |
| Max | 6200 – 7300 | 7 | 4 | 2 | $ 1,100,000 | $ 0 |
663 |
| Contingent – 1 Properties Found | |||||||
|
Square Feet |
Bedrooms | Full Baths | Half Baths | List Price | Sale Price | Days On Market | |
| Min | 3000 – 3600 | 4 | 3 | 1 | $ 559,000 | $ 0 |
30 |
| Avg | 3000 – 3600 | 4 | 3 | 1 | $ 559,000 | $ 0 |
30 |
| Max | 3000 – 3600 | 4 | 3 | 1 | $ 559,000 | $ 0 |
30 |
| Active – 120 Properties Found | |||||||
|
Square Feet |
Bedrooms | Full Baths | Half Baths | List Price | Sale Price | Days On Market | |
| Min | 2200 – 2700 | 3 | 2 | 0 | $ 376,500 | $ 0 |
4 |
| Avg | 4700 – 5500 | 4 | 3 | 1 | $ 1,402,936 | $ 0 |
207 |
| Max | 8600 – 10200 | 6 | 7 | 4 | $ 5,890,000 | $ 0 |
1123 |
| Conditional – 1 Properties Found | |||||||
|
Square Feet |
Bedrooms | Full Baths | Half Baths | List Price | Sale Price | Days On Market | |
| Min | 5100 – 6000 | 4 | 5 | 1 | $ 1,899,900 | $ 0 |
217 |
| Avg | 5100 – 6000 | 4 | 5 | 1 | $ 1,899,900 | $ 0 |
217 |
| Max | 5100 – 6000 | 4 | 5 | 1 | $ 1,899,900 | $ 0 |
217 |
| Active – 70 Properties Found | |||||||
|
Square Feet |
Bedrooms | Full Baths | Half Baths | List Price | Sale Price | Days On Market | |
| Min | 2000 – 2400 | 2 | 2 | 0 | $ 432,000 | $ 0 |
2 |
| Avg | 4100 – 4900 | 4 | 3 | 1 | $ 1,210,217 | $ 0 |
150 |
| Max | 9200 – 10800 | 6 | 6 | 3 | $ 4,900,000 | $ 0 |
572 |
| Conditional – 1 Properties Found | |||||||
|
Square Feet |
Bedrooms | Full Baths | Half Baths | List Price | Sale Price | Days On Market | |
| Min | 6700 – 7900 | 6 | 6 | 3 | $ 1,395,000 | $ 0 |
17 |
| Avg | 6700 – 7900 | 6 | 6 | 3 | $ 1,395,000 | $ 0 |
17 |
| Max | 6700 – 7900 | 6 | 6 | 3 | $ 1,395,000 | $ 0 |
17 |
