Available inventory in Gainey remains unchanged from last month. As of August 30, there are 15 active listings which have been on the market an average of 69 days–up a few days from last month. Let’s jump into our Gainey Ranch real estate report for August 2024. The active listings range in price from $499K to $3.599M. Only one seller has opted to reduce their listing price in the past few weeks. The average asking price per square foot is $624.
Pending sales have tripled since last month–there are six homes currently under contract. There are no “coming soon” listings.
Although some of the pending sales may close by August 31, as of today, there has been just one closed sale since last month–it was a property in the Greens–a 3 bedroom, 2.5 bath, 2047SF home that sold for $1.1M after being on the market for 123 days.
While we have some hot weather still to get through, we should see sales slowly ramp up. Mortgage rates have dropped a little and some predict we’ll see even lower rates this fall. We don’t expect a big drop in rates, but even a half point will breathe some life back into the market.
