San Lorenzo Valley Real Estate market update – 1st Quarter 2014

San Lorenzo Valley Real Estate prices 2014

The average price of a single family home was $438,476 during the first quarter of 2014, up about 3.8% over the average of $422,468 in the 4th quarter of 2013.   SLV home prices are  about 26.5% higher than the $346,460 average during the first quarter of last year (Q1-2013).

How does this compare historically?   The Q1-2007 average price was $589,165!      Q1-2013 turned out to be a “second bottom,” if you will, after Q1- 2009 when prices dropped to an average of $380,763.      Keep in mind, each and every home value does not rise and fall to this degree!    What this means is that more expensive homes are selling more often now.

52 homes sold in the San Lorenzo Valley during the first quarter.   Average days on the market is pretty stable – 73 days this quarter– however– over half of homes sold within 40 days – and a quarter were in escrow within 2 weeks*.

The percentage of short & bank owned sales declined to just 21% (compared to 28% last year), reflecting the national trend of rising home equity.

The least and most expensive home sales were both in Boulder Creek: $150,000 for a fixer on about ½ acre, and $1,000,000 for a stunning estate – a 9 year old custom 4,800 square foot home, situated on 3+ acres.

In case you missed it, here is 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 2014

SLV Real Estate
San Lorenzo Valley Home Prices

 

If you are thinking of selling your house this year, check with me – your home may be worth more than you think!     Multiple offers are really common! –Especially for homes priced under $500,000.

In this strong market, buyers really need a dedicated agent to help them through the process.   There still aren’t enough homes on the market for everyone, but I have strategies to help buyers so home buying goes as smoothly as possible.

 

Concerned about how to buy when you have a home to sell?   I’ve several strategies I’d be happy to walk you through.   There are ways to make the timing of your transaction less stressful.   E-mail or Call me soon so we can talk about your particular situation and create a plan you’re comfortable with.

SLV Housing Inventory

SLV Housing Inventory

 

Although more people are putting their home up for sale, we have barely 4 months of housing inventory right now: under 6 months is considered to be a sellers’ market.

 

What are people saying about buying / selling with MC?   Click here to find out! Call MC Dwyer, Century 21 Showcase REALTORs, (831) 419-9759.

*Source: single family homes sold through MLSListings.com, as of April 25, 2014, zones 34-37

 

POSTED BY M.C. Dwyer, MBA, REALTOR    call/text (831) 419-9759

Century 21 Showcase REALTORS

http://www.Santa-Cruz-Mtns-Homes.com copyright 2014

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