The home at 1110 South River Landing Rd withdrew from the market in December 2013 after testing the market for 97 days. It was listed for sale at $850,000 but the current market data doesn't support that price for the property.
The last home that actually sold over the $800,000 mark was the waterview home at 310 South River Landing Rd. It sold in April 2013 at $820,000 after more than 403 days on the market. The property was originally listed at $995,000 before dropping to $899,900 in April 2012.
Realistic expectations for valuation of non-waterfront homes are between $525,000 and $710,000. Data suggest the waterfront homes value between a range of $1,275,000 to $1,495,000. Both price points may adjust for market fluctuations and appointments of the home. However, if you are considering listing your property higher than these ranges, you will have to be prepared to stay on the market and risk not selling at all.
Market conditions for this community indicate that homes will sell when properly priced but will sit on the market when unrealistically high.
Have questions regarding the market, give me a call at (443) 837-5645.
