MORE GOOD NEWS FOR SCOTTS VALLEY HOME BUYERS: Recent reports about the Scotts Valley Real Estate Market stated that there would be a good increase of listings and homes coming on the market in April 2014 as more sellers would be ready to make their move and time their closings around the end of the school year in late May and June. It appears that prediction is holding true in early April.
As of 12:30pm today, April 4th, there are 5 new listings so far with SF homes averaging a list price of $899,250. Also, there are so far 4 closings this month with an average sales price of a WHOPPING $1,006,667! However, one sale that closed TODAY was 787 Rider Ridge Road which closed for $1,375,000 and it pushed the average sales price up. Take that sale away and you are averaging $848,500 as a sales price so far in April, 2014.
Want more good news? Many investors that were buying up homes are now scaling back as they have seen the biggest jump in prices already taken place. Although we do expect to see the price of homes continue to go upwards, many investors were coming in and paying cash for homes over the past couple of years as prices were still very low in comparison to where they are today.
Look for this to have a minimal impact on supply and demand. Although it will be minimal, it will have an impact. This is good for today’s home-buyers that have been competing against cash buyers in the lower priced segment of the market. Investors are still out there lurking for good deals, no doubt, but not as many as we saw in 2013.
Robert Aldana is a 29+ year licensed real estate veteran with American Dream Realty in Scotts Valley, and also a long-term resident and homeowner here in town. He is the founder of MyScottsValley.com and the popular local news and events page at Facebook.com/MyScottsValley.
He was voted as the “Rave” winner in the category of “Favorite Real Estate Agent” in the Scotts Valley Press Banner’s contest for 2014, and also awarded the Scotts Valley Man of the Year in 2014 for his contributions to the community.
Robert was also a nationally syndicated real estate journalist and was a highly sought after interviewee on the topic of real estate by local, national and even international media, in addition to appearing on HGTV and local NBC’s “Best of the Bay”. Many of his articles and interviews can still be read at RobertAldana.com, DeadlineNews.com, RealtyTimes.com, Forbes.com, among many other real estate and finance news sites and publications.