There were 4 closings in May. And the prices that some people were getting were very impressive. For example, a new 1400 square foot ranch sold for $177 per square foot while an 8 year old, similar sized ranch sold for $179 per square foot.
There is something to be said for an existing home over a new one and some buyers recognize that. Although an 8 year old home has more wear on the systems and the roof, they also often have an established lawn, fencing, and perhaps a shed. In addition, you don’t have to wait for the 120-180 day construction period.
In general, prices of existing homes are lower than new construction homes but the gap between those prices has been narrowing as the market heats up. We will keep looking at homes in Mountain Ranch. We currently have two homes pending in Mountain Ranch and are working on a third.
If you would like to sell or buy a home in Mountain Ranch, drop us a line by completing the contact form below. We know Mountain Ranch well because we live here.