Well, in my last blog I said I’d be bringing you more market information about the attached homes in the 92127 and 92128 areas. Lets start with contingent properties, meaning they are all short sales with offers waiting for the short sale lenders to approve the sale, before starting the escrow process. In this report, we have 26 properties in contingent status in the 92127 area, also in the 92128 zip code area, there are 29 properties in contingent status.
In pending status, there are 51 properties and the smallest is a 688 square foot condominium in the Villa Taviana community. It was going for $130,000 at the time it went into pending status. The average unit in the area is 1102 square feet and is running for $234,938 with an average of 64 days of market time. The larger townhomes in the area are around 1599 square feet and were priced about $380,000, but their average days on the market were a whopping 277 days.
There were 68 attached homes sold and the smaller units in this category averaged 581 square feet and there was one listed for $119,000. It took 199 days to sell. The larger units were approximately 1599 square feet and priced at an average of $369,888. The market time for the larger sold attached units took almost a year to sell at 315 days before closing escrow. Most likely, this had more to do with the fact that many were short sales going through the approval process. Unfortunately, the distressed market is notoriously slow moving, but with patience, a first time home buyer can really come away with a bargain of a home. Patience and determination are the key words though. The previous numbers were taken from the last 90 days.
For more information, click here:Rancho Bernardo Attached properties
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