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Single Family Homes
In Farr West, the total number of homes sold in 2018 was down 11% from the prior year. Only 93 homes sold compared to 105 in 2017. On a slightly more positive side, the median sales price in 2018 increased marginally with a 3% incline from the prior year. The median sales price in 2018 was $360,000, compared to $349,150 in 2017. This 3% increase may be signs of leveling in the market price. A 3% growth in sales price is lower than the sales price growth in 2016 and 2017 both years showed an increase around 10%.
Residential land in Farr West showed a growth rate of 21.95% based on the the previous year’s sales price. The median sales price was up in 2018 to $100,000 from $82,000 in 2017. The quantity sold in 2018 was a 66.67% decrease with only one sale compared to the three land sales in 2017. WIth the increase of over twenty percent, the market was strong in 2018 for residential land, and the price is also significantly higher than the median sales in 2014 of $87,750.
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