Scotts Valley Real Estate – Prices and Sales through June 2012

Scotts Valley Single Family Homes are selling quickly and there is very little discount between list price and sold price.   95 homes in Scotts Valley sold through June this year: the  average price was $642,902 on an average list price of $657,037.

Last year, the average home sales price for the six months ending in June was $722,273, based on 75 closed escrows.    The price difference between this year and last can be partially attributed to the fact that last year, 10 homes had sold for over $1 million: one of which fetched $2.6 Million.    This year, just 5 million dollar plus homes have sold so far.

The most expensive home so far closed at the end of May for $1,600,000.   This was a gorgeous 4 bedroom, 3 bath, 3800 square foot home on over 11 acres, many of which were professionally landscaped.

In contrast, the least expensive home sold the very next day, for $189,000. This was certainly an exception as the lowest price house in the area by about $100,000.   It was a 1 bed, 1 bath 848 square foot foreclosed home on just over ½ acre.

Homes are selling far more quickly than before, as the chart above shows.    The discount between list and sales price remains fairly narrow at about 1-3%.

Source: MLSListings.com – Single Family Residence closed escrows, zones 39-41

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