Greetings friends and neighbors! I was recently sent a link to a drone video of the progress as of April 21st, 2017 on the planned SH45 Toll Road between Mopac and FM 1627 and I thought you might be interested in viewing the link as well.
SH45 SW has been a hot topic ever since the state owned right of way was acquired in 1987 for use as a future roadway connecting FM 1626, Bliss Spillar, Loop 1 (Mopac) and SH 45 West of Loop 1.
I live in Greyrock Ridge, a recently developed section of Circle C Ranch, located near the South and West corner of Loop 1 (Mopac) and SH 45, so I am witness to the construction efforts increasing daily. On those days when no work is going on, I’ve take the opportunity to hike approximately 1/3 of the route personally and take photos from the ground but the drone video gives a much better perspective on the route and progress thus far. For those of you who also live in Greyrock Ridge, note the 4:10 minute market of the video and you can clearly see the Greyrock Ridge homes to the left side of the screen as it approaches the Loop 1 (Mopac) and SH 45 SW connection.
Credit to Gregg Sales for the video and potentially more updates in the future. To learn more, click this YouTube video link https://www.youtube.com/watch?v=RC3dHRE4lw8 or go to https://www.sh45sw.com to learn more about the project.
Wow, what a difference one month makes!
We have entered the Spring Selling Season. In April Meridian recorded 8 Homes Sold, that’s 5 more than were recorded in March. Seems the jump in sales could be caused by several homes priced below $500k. The median sales price in April was $491k while the median price in March was $710k.
Over the prior six (6) months of sales, Meridian recorded 17 sales – with an average size of 3370 sf, and $537k. As of May 4th, there were 9 homes available for sale in the MLS with an average price of $759k.
The most sales were centered on homes between 3500-3999 sf (7) selling for an average of $152/sf or $557k. One super-sized property (>4500 sf) sold for approximately $165/sf or $745k.
The latest report appears below for your convenience. To see more details about sales in Meridian over the past 6, 12 or 18 months, feel free to send us a note and request a sales history report. Alternatively, we are now publishing a monthly update in the Neighbors of Circle C and Meridian magazine that is delivered to residents of Meridian by US Post.
Meridian Market Statistics
It’s that time of year again! More and more CCR homes are popping up on the market for sale and it seems that if they are priced correctly they are under contract just as quickly.
In April, Circle C recorded 26 sales in the MLS (some new construction or FSBO sales are not captured) with an average price of $518k with an average of 31 days on market. As of May 4th, there were 55 homes for sale in the MLS with an average price of $526k! Similarly, there were 60 homes under contract at an average price of $524k.
Over the past six (6) months CCR recorded 142 sales with an average price or $480k or $171 per Square Foot!
Compared to the same six (6) month time frame last year (November 2016-April 2017 versus November 2015-April 2016) the number of homes sold in the MLS jumped by 14 or 11% for an additional $4k, or +2%. Month over month we see a very slight uptick as the market maybe starting to normalize.
Just like last month, if I were to get out my crystal ball and make a forecast I would expect a solid spring for sellers. It’s still a “Seller’s Market” and Buyer’s continue to shop CCR due to the location, amenities and schools!
To see more details regarding the last six months of sales, check out what is selling in your neighborhood by viewing our market statistics. If you have questions, post them here or give our office a call.