Sales in Cottage Grove saw a pick up in December with an increase of 16%, however the full year lagged 2016 figures by 11%. The slowdown has caused the average sale price to hover around $400,000. There are deals to be found in the neighborhood with some homes selling in the low $300,000's in recent months.
While oil prices continue to improve above $50 a barrel, the average sale price per square foot in Cottage Grove has also seen gains recently, however there remains to be little direct correlation to the commodity over the long term. The spread between low sale price per square foot and high sale price per square foot describes the variety of homes being sold in the neighborhood. One of the oldest homes sold in the neighborhood represents the low for the most recent month, while one of the smallest and highest quality new construction homes in the neighborhood sold represents the high.
As inventory in the neighborhood shrinks, the days on market for sold homes are following suit. Homes that sold in the most recent month were on the market for an average of 55 days, slightly lower than this time last year. There are currently nearly 55 homes to choose from in the neighborhood!