Granite Bay Home Prices Continue to Rise

By
Real Estate Broker/Owner with Anthea Adair | Sierra Rock Realty Group | DRE#01919179

Have you been following the signs?   Price trends in the Granite Bay area continued their recent uptrend this week.  While still below the market's high point, we've seen a nice run recently.  

Sale Pending Sign


This week:  The median list price in Granite Bay is $950,000.  

Inventory is tightening and days-on-market is falling.  The Market Action Index shows demand heating up.  These are relatively bullish signs for prices.  


Supply and Demand:  Home sales have been exceeding new inventory for several weeks. While still a Buyer's market, prices seem to have responded by moving upward. If the demand trends continue, expect prices to keep marching upward, especially once we see a true Seller's Market.  We've had a few spikes on the Market Action Index to flutter into a Seller's Market, but we're not 100% in the zone yet.  Hang onto your hat...we'll see if things continue to shift next week!


Quartiles:  Investigate the market in quartiles - where each quartile represents 25% of homes ordered by price.

Most Expensive 25% of properties:     Median Price $1,674,950

Upper/Second 25% of properties:       Median Price $1,074,000 

Lower/Third 25% of properties:         Median Price $795,359

Bottom/Fourth 25% of properties:      Median Price $600,000

 

 

 

Real-Time Market Profile

 

Comments (1)

Anonymous
Laurent

This was very helpful to understand the area market conditions.

Thank you!

Laurent

Nov 06, 2012 03:43 PM
#1

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