Top Producer Update – Tahoe MLS
Happy to say that Doug Flynn Real Estate is working towards another Top Producing year in the Tahoe MLS with another nice closing where Buyer and Seller are both extremely happy. 10768 Labelle Court in Gray’s Crossing closed for $1,365,000, $433 price per square foot. This is the 5th Gray’s Crossing home sale for 2017 compared to 4 the first quarter of 2016. There are three other homes currently in escrow in Gray’s Crossing with one other set to close in March. DFRE also has that one in escrow.
Gray’s Crossing Inventory and Stats
With 11 homes currently on the market and 22 sales in the last 12 months there is 6 months of inventory on the market. This is a healthy number for the market. It should be a solid sales summer at Gray’s Crossing.
The average price per square foot for the five sales is $419. The new build construction is solidly above $425 a foot. The average sale of these homes is $1,420,000. The median price is $1,550,000.
Gray’s Crossing is still proving to be a builders best value as lots can be purchased for about 10% of what the sales price will be of a developed home. This percentage is inching towards the rule of thumb for spec builders of 20%. At about 20% spec builders can normally still build and make a profit. This can be a moving target but anything below 20% can be seen as a bonus for the home developer.
Doug
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