Neighborhood Spotlight- Dundee Ridge
Today I am spotlighting the Dundee Ridge Community in Dundee, Michigan. This community has experienced turbulent property values over the past several years. Many times in the past several years there have been ten or more homes available in the community and values absolutely plunged between 2005 and 2010. Fast forward to 2011...we can't keep inventory in Dundee Ridge. Everything I have listed in the sub in 2011 has sold for very close to full asking price within the first 30 days on the market. We seem to have hit upon a hot seller's "micro-climate" specific to this area. Home values have not only stabilized but I am seeing good increases. The average sale price for homes in Dundee Ridge in 2010 was just under $122,000. For homes already sold in 2011 that figure is up to nearly $125,000. Better yet, there are currently 5 pending sales in the development with an average list price of $129,000. For a market that is supposedly "stable" or "declining" these are great numbers. It's great to be able to report some good real estate news! Things are definitely looking up for residents of Dundee Ridge.