Welcome to the Pine Lake real estate market update for 2022! I’d say that Pine Lake was a hot seller’s market last year. Let’s take a closer look at the numbers.
There were 14 single-family residences sold in Pine Lake last year, with an average sale price of $326,035 and a median sale price of $322,300. The lowest sale price was $206,000, while the highest was a whopping $460,000. The average size of the homes sold was 1,495 square feet, with the largest being a 2,363-square-foot property and the smallest measuring 842 square feet.
The most popular property type in Pine Lake was the single-family residence, with no other type of property being sold. All 14 properties that sold were listed as residential, with no active or under contract listings reported.
The statistics show that the sellers in Pine Lake were in a strong position last year. The average days on market for the homes sold was only 13, with the longest time on market being 53 days. Furthermore, the SP:LP ratio was 103%, indicating that most homes sold for over their list price. In fact, one property sold for 15% more than its original list price, which is a testament to the strong demand for homes in Pine Lake.
If you’re in the market for a home in Pine Lake, the numbers suggest that you should act fast and be prepared to pay above the asking price. With a hot seller’s market, competition can be fierce. However, if you’re selling a home in Pine Lake, now might be the perfect time to list it on the market. The high demand and low days on market are favorable conditions for sellers.
In conclusion, Pine Lake was a hot market for single-family residences in 2022, with strong demand and high sale prices. As we head into 2023, it will be interesting to see how the market develops and whether the trends continue. Stay tuned for next year’s update!
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Kevin Polite, HomeSmart International, 678-435-9991
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