We last updated this post on July 18th Here is a link to the July 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.
We pulled this data from the MLS for home sales as of 2/1/2024
Active Homes for Sale: 35
Average Price: $634,843
Average Square Feet: 2,794
Average Price per Foot: $229.77
Average Year Built: 2022
Average Days on Market: 97
Homes Under Contract: 2
Homes Sold in the Last 90 Days: 10
Average Price: $679,680
Average Square Feet: 3,041
Average Price per Foot: $224.33
Average Age of Home: 2021
Average Days on Market: 99
Homes Sold in the Last 180 Days: 29
Average Price: $641,789
Average Square Feet: 3,038
Average Price per Foot: $212.07
Average Year Built: 2021
Average Days on Market: 101
Absorption Rate: 7 months
What is it? The amount of time needed to sell the existing inventory.
1-4 Months – Seller’s Market
5-6 Month – Neutral Market
7+ Months – Buyer’s Market
Here is the annual sales study going back to 2014 – Parks of Aledo Annual Sales Study. This shows the complete sales data for 2023, and shows that pricing appreciation leveled off compared to the increases in value from 2021 and 2022. That being said, there was still an increase in average price appreciation, which needs to be recognized. The Aledo market is very strong and very desirable. We are moving back towards traditional market movement, post-pandemic. Which means that there will be more days on market, and more inventory, but that is not a negative, rather a more neutral market. At this point, there is a decent surplus of homes showing the 7 months of inventory, but we are not quite in the selling season. This is evident by the fact that currently only 2 homes are under contract. Again, this data tracks what is in the MLS, so builder sales (for build jobs that don’t hit the MLS) are not recorded. I know that builders are activity contracting for homes, and with the Lakes phase fully opened, we will see more inventory simply due to more builder product being available.
I am excited about this years market, and believe we will see solid sales and values continue to improve. We have a handful hitting the market in the next few months, so reach out to us if you or anyone you know is looking at Parks of Aledo.
