Fairway Village
This is a glance at the recent three years of market activity in Fairway Village. Included are the site built houses on single family lots. Not included are condos or attached housing.
Fairway Village was built in the early 1980’s. I did the appraisal for the original development then. Fairway Village includes condominiums, detached houses and attached houses. There is a golf course that the housing surrounds. It is a development for senior citizens with a minimum age requirement of 55 years. Young children can not live there.
Fairway Village
| Time Frame | Ave. Days on Mkt. | Sales Price |
| Fall 2004 to Fall 2005 | 48 | $278,480 |
| Fall 2005 to Fall 2006 | 26 | $324,429 |
| Fall 2006 to Fall 2007 | 52 | $341,500 |
As you can see from the chart the prices in Fairway Village have been increasing over the last years. They went up 16.5% from 2005 to 2006 and up 5.6% from 2006 to 2007. The increase has decreased recently, as the rest of the market. The marketing time went from 48 days to 26 days to 52 days over the three year period. In the last year there have been, on average, about two sales per month. There are 15 houses on the market right now, so that is a seven to eight month supply. Overall Fairway Village is doing well and, although reflecting the overall market characteristics, is a bit more stale than many areas. Of course it serves a more gentrified and stable market segment.
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