There are 8 homes in Longleaf under contract waiting to close. 2 are built before 2010, however, these numbers are a bit skewed since they were either short sale or bank owned. They were asking $101 average per sq foot when they went under contract. The 6 remaining were asking $135 per sq ft when they went under contract. Should be interesting to see what all these actually close out for.
At the moment there are 14 homes for sale in Carol Estates. The average asking price for these homes is $60/square foot. Of the 14, 9 are either bank owned or selling as a short sale. The other 6 homes are priced competitively and these will close quicker because there would be no waiting for the bank to respond.
In the short-term our market has been fairly stable, our absorption rates basically unchanged from last quarter, but are better than last year. Still only one in two homes have sold, leaving plenty for buyers to choose from.