Dakota Ridge – End of Year Single Family Market Update

# of Closed Sales: 20

Average Days on Market for Solds: 59

Median Sales Price: $1261461

# of news listings: 1

Months of Inventory Last Month: 1

2016 saw substantial price increases in Dakota Ridge compared to 2015, with about the same amount of sales.  In 2016 there were 18 single family sales with a sales volume of $22,706,307.  In 2015 there were 20 single family sales with a sales volume of $18,964,100.  The average price of a single family home in 2016 rose to $1,261,461, compared to $948,205 in 2015.  

The Dakota Ridge single family market continues to see very limited inventory.  As of this post, there were only one single family home on the market.  The limited inventory in Dakota Ridge and competition amount buyers pushed up the average sales price in 2016.  I see this trend continuing in the spring of 2017.    

The market continues to favor sellers, and will do so through the spring season.  

If inventory levels stay low, which I think they will, Spring 2017 will be a very active market with prices continuing to climb.