A "Price Sensitive Sellers Market" was the definition of 2016 real estate in College-Glen. There was limited supply of homes for buyers most of the year so that caused many properties to sell at or above list price with multiple offers. The properties that are priced right, show well and have good marketing are getting sold quickly but those properties that are lacking or priced too high are sitting and needing price reductions to get consideration. Hence the "sensitive" sellers market.
Average Sales price increased from $301,140 to $325,529. An 8.1% increase.
Average Days on the Market went up from 24 to 25.
The number of sales went down from 118 to 109.
The 2016 highest priced sale was for $400,000.
I expect a very similar year in 2017 as well...time will tell :-)
Call or Email me if you have any real estate questions. I love working with buyers and sellers in his great neighborhood of College-Glen.
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Doug Reynolds
Realtor
916-494-8441
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