The Orinda luxury home sales report for April 2013 reflects a generally steady market for homes listed or sold above $1M, which is the majority of the Orinda real estate market.
Although some homes sold for a significant amount above their asking price, on average sales in April went for about 1% over listing price. This is not always an accurate method for measuring demand, since there is no way of knowing if listing prices were set high (to bump up offer values) or low (to attract more offers) relative to market conditions. Individual sales vary based upon location, features and condition.
What is significant in April data is that the number of homes sold was almost twice as in March and the number of days to sell remains under two weeks. Going into the summer, it’s expected that supply will not meet demand and desirable homes will continue to sell quickly and for slightly higher prices.
May 1st Market Snapshot:
· Homes active on the market: 20
· Price range of active listings: $1,215,000 - $4,995,000
· Homes now in escrow: 19
To receive a no-cost valuation of your home in today’s market, click HERE.
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Contact Us for more information regarding the Orinda luxury home sales report or for assistance with buying and selling East Bay real estate.
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John A. Souerbry & Associates Call (925) 323-1450 (DRE 01370983)
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