St Marlo makes me think of the Dickens Novel, The Tale of Two Cities. The quote goes, “It was the best of times, it was the worst of times”. For those who purchased million dollar homes at the peak of the market, well, now is the worst of times. But if you are looking for a luxury home in a gated community then, for you it could be the best of times.
St Marlo is an exclusive community of beautiful homes that range from (in this market) the low $400’s to over $2M. It’s a broad price range and, as you would expect, a broad range of styles and finishings. As the time of this post, there are 70 properties on the market here, with 10% of those being new construction. 13% are listed as distressed (bank owned, potential short sale, etc.) but based on agent comments I would say 40% are very motivated. 22 of the 48 homes that sold in St Marlo over the past 12 months were distressed sales, that equates to 46%.
As communities go, the percentages of distressed homes are higher than most communities, but it presents a very real opportunity for for savvy buyers. Take a look at some average sale prices in various price ranges:
| SAINT MARLO COUNTRY CLUB | ||||
| Avg. Sales Price/Original List Price and | ||||
| Avg. Sales Price/List Price | ||||
| Price Range | SP/OLP | SP/LP | ||
| $1M + | 70% | 90.60% | ||
| $750k - $999K | 83.80% | 93.80% | ||
| $500k - $749k | 91.90% | 94.60% | ||
| Below $500k | 101.40% | 103.10% | ||
The numbers play into the best and worst of times thought even more. Homes selling below $750k are fetching reasonable sales price rations, even great ratios under $500k. It’s those $1M + homes that present the real opportunity.
Contact us to see any of the great opportunities that are available now in this exclusive gated, golf course community.
Tags: Gated Community, Golf Course Community, Luxury Homes, Saint Marlo Country Club
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