Results for the 4th Quarter compared to the 3rd Quarter 2011
469 Single Family Homes sold across Santa Cruz County during the final 3 months of 2011. The average home sales price fell about 3.5% to $523,264, compared to the 576 homes which sold during the 3rdquarter at an average price of $542,527. The median price home in the 4th quarter (where half the homes sold for more and half for less), was $450,000, down 3.4% compared to $466,000 for the 3rd quarter.
Here’s an interesting observation: the percentage of distressed sales fell at the end of the year. Foreclosure sales fell: 107 of the homes sold in the 4th quarter were foreclosures, compared to 128 of the homes sold in the 3rd quarter.
There also fewer short sales: 85 short sales during the 4th quarter, versus 95 in the 3rd quarter.
Could this decline in distressed sales be a bright sign for the housing market’s health? Time will tell, but there was a news report released today by the Mercury News, saying the Truckee research company Clear Capital reports a stable outlook for home prices in the Bay Area. Click here to read more:
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Building A Bridge to Your Future
M.C. Dwyer, MBA, REALTOR, Century 21 Showcase REALTORS
http://www.Santa-Cruz-Mtns-Homes.com copyright 2012