Time again for the State of the Neighborhood.  Every year I run the numbers for Sunset Hills from our Multiple Listing Service so we can see how our neighborhood is faring with sales of homes and this year was definitely better than the previous year.

sunset hills mapI use the geographic area marked by Friendly, Aycock, the South side of Walker and Elam Ave.  We also include a bit of Market, a touch of the area around Sunset Hills condos (just the single family homes) and the Madison area to Lindell.  This area has at least 4 “subdivisions” in it including College Park, Morehead Park, etc. but since most all were platted and built at about the same time using similar building materials and styles, this is the area I use when running a Comparative Market Analysis for sellers.

in 2012 we had 33 homes sold in the area averaging 108 days on the market. 215 Elam skewed the low numbers quite a bit.  It was a foreclosure in really rough shape and it took a while to sell.  It ended up selling at $44 per square foot.  Second lowest, 2415 Madison, was really the true indicator at $72 a square foot, not great but almost twice what Elam sold for.  The highest was 407 W. Greenway, a gorgeous home that sold at $171 a square foot.  Overall average for the year was $114.18 a square foot.

In 2013 we sold 35 homes with an average of 100 days on the market- a decrease of 8 days.  Lowest dollar per square foot was 1821 Rolling Road at $64 a foot (still up from last years low of 44) but that home was an estate sale.  The second lowest, 2602 Market Street, is a much better indicator at $89 a foot.  The high was 1716 Madison at $156 per square foot which is lower than last year but our average for the year was $118.97 a foot which is an increase of $4.79 a foot.  Not a big increase but still an increase.

So the highest dollar amount per square foot decreased but the days on market decreased and the average dollar per square foot went up almost $5.  This is good news- it shows not only that our neighborhood has held its value but that last years recovery has helped our neighborhood increase in value.  It helps to have great homes with fantastic architecture, tree-lined streets convenient to the corner area and parks in walking distance.  Oh and it also helps to have great neighbors!

Please let me know if you have any questions- you can download Acrobat files of the data here:

Download Sunset Hills 2012

Download Sunset Hills 2013