Explore the Latest Market Update in Prominence on 30A for April 2024

Market Overview for Detached Single-Family Homes

This month, the detached single family home market in Prominence has shown only slight movement. We saw a small increase in active listings to 15, up from 12 last month. The average list price currently stands at $2.198 million, equating to $705 per square foot, with homes averaging 97 days on the market.

One home has gone pending since last month's update. 75 East Crabbing Hole Lane, with a list price of $1.595 million — one of the lowest in Prominence for detached homes, is under contract and set to close sometime in May. It’s an attractive price per square foot of $737 and has been on the market for 175 days.

Despite these listings, no homes in this category were sold in the past 30 days. However, over the last six months, four homes have closed with an average sold price of $1.96 million, about $707 per square foot, and an average of 76 days on the market.

Triplex Units Analysis

A Unit

Triplex A Units, the largest in the community, show no change in total active listings from last month, holding steady at 10. The average list price for these is $1.086 million or $621 per square foot. One A Unit at 308 Milestone Drive recently went under contract listed at $998,000 or $571 per square foot after 113 days on the market.

B Unit

For B units, there are currently 13 active listings, a slight increase from last month. The median list price is set at $980,000, with an average price per square foot of $584. Notably, 117 Pinelands Loop Unit B sold for $935,000, which shows a strong sold to list ratio of 96% after only 11 days on the market.

C Unit

C units present the least competition with only five active listings, a decrease from last month's numbers. The median list price is $839,000, or $657 per square foot. These units are moving a bit faster, with a recent sale of two C units closing at an average sold price of $811,500 and an impressive average of 20 days on the market.

Market Opportunities and Insights

The current market in Prominence is showing a variety of opportunities, particularly in the triplex units. With a broad range of pricing and days on market, potential buyers have a good chance of finding something that meets their needs, especially as we approach the high season starting with Memorial Day, which typically sees an influx of visitors and potential buyers.

For sellers, pricing remains a critical factor. Those who have priced their homes competitively have seen quicker sales, as evidenced by the recent transactions in B and C units.

Final Thoughts

Navigating the real estate market in such a dynamic community as Prominence requires a deep understanding of the local trends and a strategic approach to buying and selling. Whether you are a potential buyer looking to find your dream home or a current homeowner considering selling, now is an excellent time to assess the market and make informed decisions.

For more personalized advice or to discuss how these trends might impact your real estate decisions, don’t hesitate to reach out. Let’s make your next real estate move a success.

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