October 30, 2013 – In the month of October I have been seeing a lot of activity in our Scotts Valley Real Estate Market that tells me that we could be in for another strong surge in market activity going into the holiday season as we have seen an almost unheard of 500% increase in pending sales from one month to another.
Although I did expect a market slowdown in the coming weeks as we head into the Holiday Season, the month of October took us all for a pleasant surprise as some very telling stats were discovered telling us that the slowdown could and probably will come at some point, but not just yet.
September versus October
In fact, in the month of October, we have seen 26 Pending Sales, which translates to almost ONE new pending sale per day. Compare that to the month of September, which saw only 5 pending sales that month and you have to pay attention if you are a buyer or seller. Home sellers who have attractively priced homes, that show well and are getting maximum exposure are getting maximum dollar for their home. In fact, I just closed escrow on a Scotts Valley home that I sold that set a whole new standard in the neighborhood for property values.
The buyers are definitely out there and they are looking for homes as many agents are reporting very active Open Houses and lots of sign calls, probably more then we have seen in quite some time.
In Scotts Valley, since the 1st of the month, there are 15 new listings, single-family homes and condos, which translates to one new listing every other day. None of the new listings have sold so far. Those that have sold are those that have been on the market over 30 days as many sellers did some price adjustments to reflect today’s values and ended up getting more for their home then what they were listed at.
Pricing is Still Key
Remember, pricing is key. You will get more for a home priced at or just below market value than what you will get if you over price your home. Why?
Because when you overprice your home, it gets shown less and you eventually have to lower the price and it translates to lower offers when they see the home has been on the market a long time.
But when you list at or just below value, you create a sense of urgency where buyers see there IS value in your home and it creates a feeding frenzy of buyers which usually leads to multiple offers, which then leads to sales above asking price in many situations.
Current Inventory and Final Analysis
Right now there are 51 Active and 29 Pending Single family homes on the market.
The real estate market is solid in Scotts Valley. I have a lot of buyers looking in all price ranges so if you are thinking of selling your home, contact me and let’s see what we can do to get you top dollar for your home.
I wrote a guide called “Today’s Home Seller Mega-Pack” which goes over tips and reports on how to get top dollar for your home. If you are interested in this FREE report, please contact me and I would be happy to email it to you.
That’s your Latest Scotts Valley Housing Market Report!
If you are thinking of buying or selling a home, please think of me. I have been licensed since 1986 and I have helped hundreds, if not thousands of families buy and sell their home. I am local and am always a phone call or email away, and I am always at your service.
REALTOR® since 1986
BRE # 00921165
4788 Scotts Valley Road
Scotts Valley, CA. 95066
800-882-7896 ext. 800
Robert Aldana is a long-term resident and homeowner in Scotts Valley, is the founder of myScottsValley.com and a licensed [email protected] with Bailey Properties in Scotts Valley.
Robert is also a nationally syndicated real estate journalist and his articles and interviews can be read atRobertAldana.com, DeadlineNews.com, RealtyTimes.com, Forbes.com, and many other real estate and finance news sites and publications. For more information and links to his articles including his appearances on HGTV and NBC, visit RobertAldana.com