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Janice Caputo's Blog

By Janice Caputo | Agent in Upper Saint Clair, PA

3 Million Dollar Homes SOLD in Mt. Lebanon PA 2010

I've noticed a shift in the sands in Mt. Lebanon this year after the 1st time homebuyer tax credit expired. It seems there's a shortage of Million Dollar homes in Mt. Lebanon for cash heavy Buyers. For anyone still looking for one, there are 3 Active between $995,000 - $1,399,000.

These 3 distinguished homes sold in the midst of an otherwise sluggish 2010 residential home sales time period; obviously these buyers know a good investment opportunity when they find it:

1.) 924 Washington Road sold in April for $1,100,000.00

2.)  41 Spalding Circle sold in July for $1,175,000.00

3.) 119 Rock Haven Lane sold in September for $1,150,000.00 to a CASH Buyer

Runner up: 93 Hoodridge Drive sold in late January for $720,000.00 also to a CASH Buyer

Meanwhile, there's 40 Half-Million dollar homes listed in the MLXchange today, on 11/12/10.  Of listings between $400,000 - $750,000, 24 SOLD this year to date. If sales continue at this rate, we have 18 months of this inventory sitting at this time. If these sellers are truly motivated, then buyers have a strong advantage for getting a great property, and with historically low rates.

Average homes' sale price (374 SOLD) is hovering @ $226,546, with 96% sale/list price ratio.

"Happy Thanksgiving & Best wishes for 2011!"

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