The first single-family home to close in 2017 has just come across the wire. 4149 Bonita Avenue was an Alfred Browning Parker home built in 1948. The home offered 3 bedrooms, 2 baths with 1,885 square feet of living area on an 8,475 square foot lot. The property was on the market for years as a single-family home and a rental. It was listed for $659,000 and closed for $640,000 or $339.00/square foot.
Market Note: During 2016, single-family homes priced under $1,000,000 accounted for approximately 50% of the sales, however these homes comprise just 26% of the active listings. This data tells us that the demand for this segment of the market far exceeds the supply.