Market Activity up to March 2, 2015

There was a good amount of market activity this week, indicating that things seem to be picking up. Remember, to get up-to-the-moment notifications of the Calavera Hills real estate market, just signup for free email property alerts:

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Here’s an overview of what’s going on in Calavera Hills

 

Market Insight

Knolls

There is now only 1 property active in the Knolls. This new property is priced in the mid-range of Knolls property at $579,000 (homes in the Knolls have sold for between $522500 – $640,000). The average for this sized home (1,522) is $534,000, so it is currently listed about 10% above the historical average sale price–although the comps are about 2 years old, so that is not outrageous.

 

Mystic Point

Well the property description said it wouldn’t last long and they were right. It was on the MLS for 5 days before going to the pending status–which is well below the Mystic Point average of 44 days on market. Listing price was $449,000. Since it was snapped up so quickly, I’m guessing it will sell for close to that listing price.

 

Nantucket

Similarly, the home in Nantucket went to Pending status after 9 days on the MLS–again well below the average of 58 days on the market. It was listed at $679,000 for a 2,050 square foot home. Assuming it sells for close to listing price, it will set a new high mark for these sized homes.

 

Crest

The new home in the Crest is currently priced at $404,890, about $30,000 above the average sale price for Crest homes. Unfortunately, the last comps for units of this size (1,276 square feet), sold in 2013 for an average of about $350,0000, so it is difficult to get an accurate, current comp for this property.

 

Villas

Only a week or so ago, there were 7 properties for sale in the Villas. Now they are all under contract except for this new listing–suggesting that the Villas is hitting it’s stride–offering competitive price points and good values. At $375,000 this unit is also competitively priced and I don’t expect it will last very long either.

 

Summary

Things are definitely pickup up and inventory seems to be moving relatively quickly–making this a good time to both buy and sell.

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Data from SANDICOR, Inc. for 1/1/13 through today and represents properties listed or sold by various brokers. If your property is currently listed this is not meant as a solicitation This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display.