Boulder Creek and Brookdale Home Sales, Prices and 2011 Market Update

Results for the 4^th Quarter compared to the 3^rd Quarter 2011

38 homes sold in Boulder Creek and Brookdale during the final 3 months of 2011.   The average home sales price was $244,723.     During the 3rd quarter, 39 homes had sold at an average sales price of $276,534.    During the final half of the year, the discount from the original list price remained stable at about 5%.Click here to find Your Dream Home.

2011 –year in review

In 2011, the  average home price fell when compared to 2010.   125 homes sold in Boulder Creek and Brookdale during 2011.   The average home sales price was $278,013 (off about 14.5% compared to last year), taking an average of just over 3 months (109 days) on the market prior to going into escrow.

Why did prices fall?    The way I see it, the main reason is that the number of higher end homes – those selling for more than $500,000 – shrank from 24 in 2010 to only 10 in 2011.    On the other hand, in the affordable and fixer-upper home segment, 39 homes sold in 2011 for less than $200,000, similar to the 33 that sold in in 2010.    The number of distressed sales held fairly steady: 63 homes were foreclosures, while 19 were short sales.     So in reality, prices fell due to the mix of homes that actually sold as much as anything else.    Curious what your Boulder Creek or Brookdale home might be worth?    Ask here for a free and confidential estimate – over the internet or in person – your choice.

2010 –year in review

In 2010, 127 homes sold at an average home sales price of $325,319 taking an average of just over 3 months (116 days) on the market prior to going into escrow.

60 homes were foreclosures, and 17 were short sales.

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