We last updated this post in June. Here is a link to the June post. Check it out and see how things are trending in Parks of Aledo.
Click here to see current listings in Parks of Aledo. More information about the Parks of Aledo can be found on their Facebook page, and webpage.
| Active Listings: | |
| Number of Homes | 15 |
| Average Price | $693,847 |
| Average Square Feet | 3,074 |
| Average Price Per Foot | $224.95 |
| Average Days on Market | 98 |
| Under Contract: | |
| Number of Homes | 3 |
| Sold in Last 90 Days: | |
| Number of Homes | 10 |
| Average Price | $639,100 |
| Average Square Feet | 2,875 |
| Average Price Per Foot | $224.33 |
| Average Days on Market | 39 |
| Sold in Last 180 days: | |
| Number of Homes | 27 |
| Average Price | $648,730 |
| Average Square Feet | 2,914 |
| Average Price Per Foot | $223.63 |
| Average Days on Market | 32 |
| Absorption Rate: | 3 1/2 months |
| What is it? | Amount of time needed to sell the existing inventory. |
| 1-4 months of inventory | Seller’s Market |
| 5-6 months of inventory | Neutral Market |
| 7+ months of inventory | Buyer’s Market |
The winter market in Aledo is always slower. 2020 and 2021 were an anomaly due to the vast influx of new residents to Texas in general. We are a very attractive market due to availability of homes, pricing, and our great school district. Those years created a little bit of a bubble and we saw values shoot up considerably. I don’t believe our values will go down, but will likely see things leveling off in 2023. Interest rates are going to discourage lateral moves due to those people likely being locked in at a much lower rate. But as discussed, we are still a very attractive and growing market.
You can somewhat see how things are evening out. Homes are sitting on the market longer right now (see active listings), and we are seeing less and less multiple offer scenarios. The absorption rate shows that as well going from 2 – 3 months of inventory. I suspect that when we look at this report again at the end of the first quarter 2023, the absorption rate will show a more neutral market – which is not a negative thing.
Remember, these reports are just reflecting the homes sold through the MLS. There are also build-job sales, and off-market sales. It is a good snapshot though.
If you would like an in depth study on your house or would like to see the year-year sales data in Parks of Aledo, we would be happy to meet and go over it with you.
As always, feel free to call us if you are curious about the neighborhood or would like to see some homes.
