Monday, October 8, 2018
Real Estate Report
A quick over view of the real estate market in Meadow Vista, obtaining data from Metrolist our Multiple Listing Service.
I receive a newsletter that tracks real estate in the Southern California area but he states it reflects the whole state of California. In his latest news letter he feels the market is still good for the next 3 to 6 months, but feels the market has slowed down, and prices are not going up at the rate in the past. Our Multiple Listing service is showing more price reductions now than in the past, which indicates to me the real estate market has reached a plateau for now, and the rate of sales has also slowed. Is this a lull in the market or does this indicate a new trend, only time will tell.
As of September 21st 2018 there are 26 active listings ranging in price from $364,950 to $2,990,000, for an average listing price of $1,039,994. The average price per square foot is $289.37, the low is $364,950, the Median is $887,450, and the high is $2,999,000. There are 2 listings that have an active release clause, they range in price from $499,950 to $525,000. The average cumulative days on the market are 133 days for the actives. The average cumulative days on the market for the listings with active release clauses are 25 days.
There are currently 2 pending escrows. The High is $839,000, the Median is $587,000 the low is $335,000, and the average is $607,000. The average price per square foot is $219, and average time on the market is 32 days. One pending listing with bring back up offers is listed at $289,000, with an average time on the market of 57 days.
From March 25, 2018 to September 21, 2018 there have been 59 sold homes in Meadow Vista ranging in price from $290,000 to $1,200,000 with a cumulative average time on the market of 46 days, and an average price per square foot of $270. The average square foot of the sold listings are 2,284 square feet.
The market has changed but I feel that if you are planning or thinking of selling, now is still be a good time to put your home on the market, and if priced appropriately will sell relative quickly.