The real estate market in 2015 has started off with much enthusiasm
and the feel of an early active spring is upon us. While there are a
variety of factors contributing to these market trends, interest rates
trending downward is certainly a KEY factor (see January Blog for
analysis).
I thought it’d be interesting and insightful to highlight a few key
trends in some market areas and analyze what is actually taking place
from a data standpoint.
Roseville-
Overall homes for sale increased throughout 2014 peaking with a total
of 464 homes for sale in October. The number of homes for sale as of
January 2015 was 283. That is a drop of homes for sale by approx. 39%!
Auburn- Likewise, there was a similar trend in Auburn with homes for sale peaking approx. in October. Since, homes for sale have dropped by approx. 32%!
Christian Valley-Meadow Vista-Colfax- Regarding acreage properties in the $200,000 to $300,000 price range, there is ONLY a total of 8 listings currently available compared to 46 sales in all of 2014. There is HUGE shortage of homes in this price range!
Grass Valley- Both the median and average prices increased over the last 2 months in December and January!
Nevada City- Between April to September 2014, there was approx. 6-7 months of inventory available, which was a 2 year high. Over the past 3 months, inventory has dropped back to this 3-4 month range, which was the general inventory range back in 2013.
Lake of the Pines- The price per SF reached a one year high
in December 2014 at $204 per SF. Overall, the last 4 months have
maintained an upper price per SF trend compared to first quarter of
2014.
Summarizing, while the above trends are encouraging
heading into spring, it’s is very important to always look at your
subject property’s immediate neighborhood. Over the past few months
analyzing various neighborhoods, I’ve
observed some subtle different trends within neighborhoods. While the
real estate market has many strong indicators, price is still essential.
Buyers are more educated now that ever and generally won’t pay more for
a home listed above market value.
Real Estate Tip of the Month: More
lenders are now requesting appraisers verify and comment that carbon
monoxide detectors, smoke alarms, and double earthquake straps are
installed. This is regardless of refinances/purchases OR
FHA/conventional loans. Some lenders will condition to have corrected
prior to close of escrow or loan. It’s a good idea to have these items
checked prior to the appraiser inspection.
If your are interested in a free comparative market analysis (CMA) for your local neighborhood, contact me for details.
Bryan Lynch, Realtor
Direct: 530-878-1688
Cell/Text: 916-765-6785
Email: BryanLynchRE@gmail.com
www.BryanLynchRE.com
License#01790398
CURRENT REAL ESTATE ACTIVITY:
www.1375BooleRd.com
MLS#14060416 -SOLD 1/16/2015 FOR $599,000.
Disclaimer:
All information deemed reliable but not guaranteed. The information is
meant entirely for educational purposes and casual reading only and is
NOT intended for any other use.
