Comparing 4 School Districts’ Market Performance
Here’s a look at the market trends for four school districts in the first half of 2020.
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How did the market perform in the first half of 2020 given the outbreak of COVID? Today we’re here to report on how four competing school districts compared to each other in terms of real estate activity between 2019 and 2020: Walton, Pope, Lassiter, and Wheeler.
Number of Closings:
Walton High School: 205 (-29%)
Pope High School: 215 (-25%)
Lassiter High School: 221 (-11%)
Wheeler High School: 182 (-27%)
Average Sales Price:
Walton High School: $583,419 (+7%)
Pope High School: $441,602 (-3%)
Lassiter High School: $436,833 (+5%)
Wheeler High School: $420,264 (+10%)
"The penalty for overpricing your home in our market can be between 1% and 2%.
Days on Market:
Walton High School: 92 days (+14 days)
Pope High School: 59 days (-6 days)
Lassiter High School: 65 days (+2 days)
Wheeler High School: 44 days (-9 days)
Walton High School: 332 (-31%)
Pope High School: 362 (-12%)
Lassiter High School: 332 (-27%)
Wheeler High School: 322 (-16%)
Penalty for Overpricing:
Walton High School: -2%
Pope High School: -1.6%
Lassiter High School: -1.3%
Wheeler High School: -1%
This last stat in particular is important to note: If you’re thinking you can push your price up and go above your comps, the first half of the year showed us that the penalty to your bottom line will be between 1% and 2%.
We plan to keep an eye on the market in the second half of the year to see how it all shapes up. Will there be more inventory? Will prices keep going up? We’ll keep you updated. In the meantime, if you have any questions about your neighborhood, feel free to reach out to us!