Current Pending Home Sales Up in Scotts Valley Area, Days on Market Increase and Sales Price to List Price Ratio Come Down Year-Over-Year

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WHILE CURRENT PENDING HOME SALES UP IN SCOTTS VALLEY AREA, DAYS ON MARKET HIGHER AND LIST PRICE TO SALES PRICE RATIO COMES DOWN OVER 2% YEAR-OVER-YEAR
The pending sales for all homes in the Scotts Valley area is showing a slight uptick as single family homes are showing a 46% pending sales ratio, meaning the amount of single family homes that have accepted offers and are in “escrow” as buyers do their due diligence, appraisal, financing, etc.
 
CONDOS & TOWNHOUSES A LITTLE FLAT
Meanwhile, condos and townhouses currently on the market are a total of 14 with 3 in escrow, representing 21.4% of condos and townhouses currently in contract.

To me that is a lower percentage then normal, but also indicative of a couple of the newer developments that have come on the market.

The overall stats are showing 40.6% of ALL homes being in pending status. Not too long ago I was seeing and reporting about 20% in pending sales, quite a difference.

THE NUMBERS…
• The average list price for single family homes and condo townhouses is $1,218,311.
• Single family homes on their own have an average list price of $1,353,580 with an average days on market of 50 days.
• Condos and townhouses are averaging a list price of $735,207 with an average days on market of 22 days.
 
TOTAL YEAR TO DATE STATS FOR ALL
• 189 TOTAL closings
• Average days on market are 41 days
• Average list price is $1,151,527
• Average sales price is $1,128,734
• On AVERAGE, homes are selling for $22,793 less than asking price or 98% of asking price – again, on average
 
VS. 2018
Compared to last year between 01/01/2018-11/11/2018 there were 196 closings (7 more) with an average days on market of 30 days (11 less), an average list price of $1,080,011 (up $71,516 in 2019) and average sales price of $1,087,744 (up $40,990 in 2019).
 
On average, in the same time YTD last year homes sold for just over 100% of asking price, averaging $7,733 over asking price. Not a huge difference, but noticeable in that days on market increased by 37%.

As always, Happy Selling and Happy Buying!

Robert Aldana
REALTOR® since 1986
DRE # 00921165
Keller Williams Realty
831-252-3959 Direct Line

[email protected]
www.robertaldana.com

ABOUT ROB: Robert Aldana is a 33+ year licensed real estate veteran with Keller Williams Realty, and also a long-term resident and homeowner here in town.

In 2015, 2016, 2017, and 2018 Robert has been the agent chosen by more Scotts Valley area home sellers and buyers than any agent or team, and Robert was awarded the Santa Cruz Sentinel Readers Choice Award as the Best REALTOR® in Scotts Valley for 2016, 2017 and again in 2018. Robert is also the ALL-TIME leading real estate agent in Scotts Valley sales.

Robert is the most recommended real estate agent in the neighborhood social media site NextDoor, and was also voted 2017 Favorite Neighborhood Real Estate Agent in Scotts Valley in the first NextDoor Fav Business Awards by local residents, and was a neighborhood favorite again in 2018.

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