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2 Comments on Castro, Corona & Dolores Heights Home Prices up sharply in July
I'd be curious to know the average number of units for both months, but even so, this is an encouraging stat. What I've found on the finance side are two things:
1) The value stability and improvement is opening up a lot of options for refinancing for some of these folks who bought closer to the previous "top" in the market.
2) The "sense of wealth" that comes along with prices moving in the right direction has owners more optimistic about real estate in general, and this attitude is spilling over to both sellers and buyers.
For those of us who watch our local markets this closely, indeed these numbers are a welcomed change from even last year. Great post. Thanks.
Thanks for the questions & comments Rob!
The numnber of homes sold was flat 15 in June and 14 in July for single family.
Condo's look completely different with most of the inventory selling off in June with 17 sales and only 4 for July.
Average sales price for a condo in Castro, Corona, Clarendon, Dolores Heights, Buena Vista for June was $840,000
Average sales price for a condo in July went down to $780,000 due to lack of inventory and sales for the period.
Price per square foot was flat but the final sales amount over the original asking price jumps from 1.56% in June to 7.07% for July.
This just demonstrates pent up demand with a shortage of inventory that hopefully will help folks who have been underwater see their values climb high enough to refinance or sell.
Frank Castaldini