We've reached a questionable milestone in my neighborhood, Hollywood Park. For the first time in my memory, perhaps ever?? there are 40 homes on the market in the Park. In a township of approximately 1300 homes, that's 3% of our neighborhood for sale at once. We didn't reach that number overnight of course, we've been steadily building the number of active homes for quite some time.
There are a couple of positive sides to this milestone. For buyers looking to purchase a home in Hollywood Park, there's plenty to choose from. Our list prices range from $189,900 to $789,000! About half of the 40 are priced at $300,000 and below, and the other half are priced above $300,000. Along with these 40 homes, there are an additional 6 homes that are under contract, hopefully soon to be sold.
Meanwhile in 2010 from January through June, there have been 31 sales, which could indicate that our 40 homes is about a 7 to 8 months supply if the sales trends continue. Time will tell whether the sales keep up the same pace in the second half of the year as they did in the first half, when they were perhaps aided by the tax credit incentives which have now ended.
