Scotts Valley Home Prices and 2011 Market Update
Results for the 4th Quarter compared to the 3rd Quarter 2011
36 homes sold across the city and rural areas of Scotts Valley during the final 3 months of 2011. The average home sales price was $709,924. During the 3rd quarter, 77 homes had sold at an average sales price of $727,842. Whether or not these quarterly statistics represent a downward trend remains to be seen - because the number of homes sold in the 4th quarter is just barely statistically significant. During the final half of the year, the discount from the original list price remained stable at about 4%.
2011 – the year in review
Overall, 2011 prices held fairly firm when compared to 2010, while the number of homes sold rose slightly and the time on the market increased by about 1 month.
157 homes sold across the city and rural areas of Scotts Valley during 2011. The average home sales price was $715,158 (off about 2% compared to last year), taking an average of just over 4 months (131 days) on the market prior to going into escrow.
The least expensive home, a 2 bedroom 1 bath built in 1960 on a 3049 square foot lot, sold for $106,976. The most expensive residential property was previously used as a residential care facility. Built in 1985, it took 485 days to sell, eventually fetching $2,600,000. The property had 14 bedrooms and 19 baths across 6200 square feet of living space, situated on 3 acres.
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2010 – the year in review
In 2010, 147 homes sold in Scotts Valley. The average home sales price was $732,327, taking an average of just over 3 months (106 days) on the market prior to going into escrow.
The least expensive home was illegally reconstructed after the 1989 earthquake. The bank owned structure was red-tagged by the county, as the acre and a half parcel still bore considerable visible evidence of the hill top having dramatically shifted; this sold for $30,600.
The most expensive home was built in 2006 and took 539 days to sell, eventually fetching $3,000,000. The exquisite home featured Monterey Bay views and privacy, 4 bedrooms and 3 baths, 3500 square feet of living space on 10 acres.
Here's a map showing Scotts Valley (Our Century 21 Showcase REALTORS Office is marked with the A bubble).
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