Sudden Valley is a homeowner's association (HOA) community I am particularly passionate about and serve. I write a monthly real estate column for our community newsletter, the Sudden Valley Views, and this month, I was asked an interesting question about home values by Gate.
In Sudden Valley, we have several entrances to the community, and each is labeled as a Gate. They are Gates 1, 2, 3, 5, 9, 13 and 28 (sorry, I can't explain the logic to the numbering or why they are called "gates" when there are no gates at any of them). Gates 1 and 2 each are the only entrance and exit to their respective home clusters. Gates 3, 9 and 13 are all entrances to the same group of homes, and Gates 5 and 28 are entrances to the same group of homes (though Gate 28 is blocked at the top, technically severing the two sections, but the resulting Gate 28 is so small that I'm including it as part of Gate 5).
If you're not familiar with the area and are now completely confused, here is a Sudden Valley community map for your reference. It may or may not clarify things for you.
Recently, I was asked for information about home sales broken down Gate-by-Gate. None of our standard MLS reporting tools provide this information readily, but I was able to use the MLS to create my own reports. To do this, I drew a map around one Gate at a time and searched for residential (no condos or vacant land) sales in the previous 180 days (going back to November 26, 2016) that were NOT bank owned or distressed properties. I did Gates 3-9-13 as one group since they are all entrances to the same cluster of homes. The results were as follows:
I also pulled some other data that I thought would be of interest, such as the lowest and highest home sales, the smallest and largest homes sold, and the shortest and the longest time on market per Gate. Here are those results from the past 180 days:
Things to consider when it comes to home value go beyond the year built, square footage, and number of bedrooms and bathrooms. Garages, level lots, double or triple lots, natural gas, views (water or golf course) and proximity to amenities all have a positive impact on a home’s value. This is likely why we see higher average home values in Gates 1 and 2 as they are closer to the amenities, and many have natural gas and/or views. You can see by the data, however, that there is a huge range in each of the Gates so while you may note a lower average sale price in Gates 3-9-13, Gate 1 had the second overall lowest home sale in the past 180 days with a home that sold for $160,000. Gates 3-9-13 also saw the fastest home sales over the past 180 days.
There are several new homes being constructed and sold in Sudden Valley right now, and many are in Gates 3-9-13. Those homes seem to be listing and selling in the mid to high $300,000’s which will help increase home values overall.
Averages and trends are certainly interesting, but every home is unique and if you are really interested in your home’s current value, it would be best to have it evaluated by an industry professional such as a real estate agent or an appraiser.
If you have any questions about the data or would like additional information, please feel free to contact me. I can be reached at (360) 647-8049 or firstname.lastname@example.org. I publish Whatcom County real estate market statistics monthly on my website, as well as email them to my newsletter subscribers. If you’d like to receive newsletter, send me an email and I will add you.
The preceding data is based in whole or in part on data supplied by the NWMLS. Neither the Board or its MLS guarantees or is in any way responsible for its accuracy. Data maintained by the Board or its MLS may not reflect all real estate activity in the market. Report reflects activity by all brokers participated in the MLS.