San Lorenzo Valley home prices rose dramatically in 2013 + January 2014 Results

2013 San Lorenzo Valley real estate market was amazing!      The average San Lorenzo Valley home price in 2013 was $417,729, an increase of 23% over 2012 at $338,238.    320 homes sold, an increase of 7% over 2012. The best news is that the percentage of short & bank owned sales declined to 28%*, reflecting the national trend of rising home equity. Here’s an overview of 2013 SLV home prices, by community**:

Town Price Change Average Price Days on Market Sales Price vs. List Price
Boulder Creek +28% $398,003

71

99.5%
Brookdale +59% $394,160

66

101.2%
Ben Lomond +13.3% $447,354

36

100%
Felton +20.2% $430,719

42

98%

San Lorenzo Valley home prices – 2011 through 2013 SLV_Average_Home_Prices_2011-2013 Wait a minute – looking at the chart, you might wonder: “Are San Lorenzo Valley home prices beginning to fall?” Not during January anyway – because there are many more buyers than there are homes for sale. That drop from the 3rd quarter to the 4th quarter was due to an extraordinary property which sold for $2,250,000 in Boulder Creek at the end of July.    In January 2014, the average home price across the valley was $408,515, up from $399,575 in December. Presently, my feeling is that the SLV housing market is stabilizing; this is a good thing.       If you are thinking of selling your house this year, my advice is: don’t wait until spring – when many homeowners typically list their home for sale.   Motivated buyers are anxious to lock in low interest rates now, so if possible, consider avoiding competing with everyone else later this year.    There are several strategies I can discuss with you, which allow you to time when you are ready to move into your next home.   E-mail or Call me soon so we can talk about your particular situation and create a plan you’re comfortable with. As the next chart shows, currently there still aren’t enough homes for sale in the San Lorenzo Valley. SLV_Homes_-_Months_of_Inventory_-_2011_to_2013 Less than 4 months of inventory means we’re still in a seller’s market.  (6 months is considered a balanced market.) Even if you have a distressed property to sell, don’t worry – about half of my transactions in 2013 were short sales, bank REOs, or fixer uppers. Click here to  find out what your San Lorenzo Valley home is worth now, or call MC Dwyer, Century 21 Showcase REALTORs at (831) 419-9759. * 91 home sales, or 50% of all SLV single family home sales, were distressed in 2013 **Source: Average single family home price, sold through MLSListings.com, as of January 10, 2014, zones 34-37

Building a Bridge to Your Future

Building a Bridge to Your Future

Building A Bridge to Your Future M.C. Dwyer, MBA, REALTOR    call/text (831) 419-9759 Century 21 Showcase REALTORS Cal BRE 01468388 http://www.Santa-Cruz-Mtns-Homes.com copyright 2014

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