Dakota Ridge – 2017 1st Quarter Market Update – Single Family Homes

April 13, 2017
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# of Closed Sales: 1

Average Days on Market for Solds: 57

Median Sales Price: $1230568

# of news listings: 5

Months of Inventory Last Month: 1

The 1st quarter of 2017 saw 1 single family sale in Dakota Ridge.  The sale occurred at 989 Terrace Circle South.  989 Terrace Circle South sold for $990,000.  That compares to 1 single family sale during the 1st quarter of 2016.  The 1st quarter is typically a slow time of the year in Dakota Ridge, and it is early in the selling season. 

Currently there are 5 single family homes on the market.  4 of the 5 are under contract.  

Current listings and status: 
-1043 Terrace Circle S. MLS: 808441.  List price: $1,075,000.  Status: Under Contract
-5065 3rd Street.  MLS: 812467. List price: $1,100,000.  Status:  Under Contract. 
-5229 Pierre Street.  MLS: 811366.  List price: $1,299,000.  Status:  Under Contract. 
-4840 6th Street.  MLS: 811742.  List price:  $1,555,000.  Status:  Under Contract. 
-4822 6th Street.  MLS:  811703.  List price:  $1,585,000.  Status:  Under Contract. 

The Dakota Ridge market favors sellers up to a price point of about $1,500,000.  Over the 1.5 Million price it depends on the house, location, lot size and other design factors whether the house moves quickly or not.  

My prediction through the summer is for the market to remain a sellers market.  With inventory low, and the location of the Dakota Ridge Neighborhood the market will remain strong with increasing prices.