Scotts Valley Real Estate Prices.....Results for 2012 so far
As the chart below shows, Scotts Valley home prices are hovering at a central trend of stability around $650,000. The difference between the sales price, compared to the list price, has been steadily shrinking. This year, some buyers have been willing to pay over asking price.
23 Single Family Homes have sold in Scotts Valley so far this year, at an average price of $640,819. The average home sales price of $633,593 in January was based on 9 closed escrows. In February, another 9 homes closed escrow, at an average price of $659,500.
Source: MLSListings.com – Single Family Residence closed escrows
The tone of press stories is improving:
Housing Affordability hits Record High
Case Shiller, which studies the nation’s housing market, noted prices declined in the 4th quarter price by 3.8%. However, Karl Case, one of the index's creators, voiced optimism about real estate's direction, based on census data indicating increased household formation which leads to increased demand for housing.
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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. During the final half of the year, the discount from the original list price remained stable at about 4%.
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