Scotts Valley Home Prices through April 2013

By
Real Estate Agent with Melody Russell Team at eXp Realty of California, Inc. 01468388

Scotts Valley Home Prices through April 2013

55 Single Family Homes have sold in Scotts Valley through April this year, at an average price of $744,960; (average list price was $753,585).   Prices rose about 8.8% during the first 4 months of 2013, compared to the last 4 months of 2012.    The average home sales price for the last four months ending December 31st 2012, was $692,436, based on 72 sales.   

The price increase between this year and last can be partially attributed to the fact that this year, only 14 homes sold for $500,000 or less, while 17 homes sold in that price range between September and December 2012.

8 homes sold for over $1 million so far in 2013, the same as the last 4 months of 2012.     Often, these million dollar plus properties are located in the exclusive gated communities of Pasatiempo or nearby Woods Cove. 

For the average priced, $750,000 home, Scotts Valley buyers can expect 3 bedrooms and 2-3 baths, about 2200 square foot  home, on a lot between ¼ up to about ½ an acre.

Housing inventory was extraordinarily low this last winter, most recently running about 2-4 months.    Anytime the inventory of available homes to buy falls under a 6 month supply, it’s considered a sellers’ market.

2013 Scotts_Valley_Housing_Inventory

 

 

The most expensive home sold so far this year closed for $1.8 million:  4300 square feet featuring ocean views.     In contrast, the least expensive home sold for $270,000: a 2 bed, 2 bath cabin on a small shady lot; it sold for $21,000 over asking price.

 

The next chart illustrates how quickly homes have been selling recently: on average, homes are on the market just 2 ½ months this spring before going into escrow with a buyer.  This is a function of the low amount of inventory we looked at above. The discount between list and sales price is really narrow at about 1%, just recently homes were selling above asking price on the whole.

Scotts Valley Homes - Days on Market and Price Discount

 

Click here to read more about the city of Scotts Valley. 

Click here to get a free, no obligation estimate of your home’s current market value.

 

Statistical Source: MLSListings.com – Single Family Residence closed escrows, zones 39-41 data as of 5/2/13

 

Posted by

Building A Bridge to Your Future

M.C. Dwyer, MBA, REALTOR    call/text (831) 419-9759

Century 21 Showcase REALTORS Cal BRE 01468388

www.Santa-Cruz-Mtns-Homes.com copyright 2012-19

 

Comments (3)

Bryan Robertson
Los Altos, CA

Excellent report!  I'm really pleased that Scott's Valley is seeing price increases similar to the rest of the Bay Area - sharply up, particularly in 2013.

May 02, 2013 05:21 AM
M.C. Dwyer
Melody Russell Team at eXp Realty of California, Inc. - Felton, CA
MC Dwyer-Santa Cruz Mountains Property Specialist

Thanks Bryan - I'm sure SV sellers are happy too; of course it's a challenge for buyers but there it is!

May 02, 2013 07:16 AM
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Great report on Scott's Valley and always nice to see how the market is doing in different areas!

May 15, 2013 12:33 AM