May 11 Analysis

May 11, Weekly Analysis

Rather than make a long list of new listings, I have color coded the new listings with an electronic highlighter.  New home listings are the primary interest of returning potential Buyers, and in this manner they can concentrate on the quadrant of homes they are particularly interested in viewing.

If I could I would color code the Pending and Closed Escrow as well – that visual would be interesting to see – but those disappear from the list the second they go into Pending, so…

Three homes went into Pending this past week – another good week for sales. 28024 Grassy Way, a 3/2 of 1,872 s.f. was listed at $349,900; 28103 Par View Court, a 3/3 of 2,795 s.f. was listed at $479,000; and 10541 Cerveza Drive, a 4/5 of 6,958 s.f. had been listed at $795,000.

Three homes Closed Escrow: 9629 Misty Meadow Lane, a 5/3 of 2,944 s.f. SOLD at $540,750; 28304 Crooked Oak Lane, a 4/4 of 3,529 s.f. SOLD at $549,500; and 9629 Misty Meadow Lane, a 4/5 of 5,344 s.f. closed at $875,000. Just seeing three homes close in one week above $500,000 is absolutely amazing!

I realize that no one is happy with the prices at which homes are sold compared to the “Good Old Days,” but those days are gone, and we have the new normal. At least the “new normal” is that well-priced homes are selling, and that is much better than just last year or the year before.

I can tell you that flyers for my listings are disappearing at a rapid rate, and showings are excellent. Buyers are cautious, but Buyers exist in numbers that we have not seen for years and we are just at the start of the Selling Season.

Withheld Foreclosures by Lenders cautious about flooding the market signal no higher prices for several years, and no one knows the size of the available Buyers pool so future predictions are chancy, but we can be thankful for what we currently have – and we still live in Hidden Meadows1