Pine Valley CA Monthly Market Report May 2013
In our always popular getaway of Pine Valley, we’ve seen just a slight increase in the number of homes which have come on the market over the past month; some of this is due to overall rising prices, and the new fact that some homeowners who were underwater with their mortgages, now have enough equity to be able to sell. It’s a very fortunate situation for all, as some of these sellers are downsizing, and by putting their homes on the market they are enabling a few more buyers to enjoy a piece of the American Dream of homeownership.
As always, Pine Valley attracts folks who love a varied climate, with an elevation of 4000 feet, San Diegans can enjoy snow in the winter, and warm breezy summers.
Ending in May, we have 10 active listings, and the averages are as follows:
3 bedrooms, 2 bathrooms, 2032 sq ft, list price $463K, and 86 days on market
Our 5 contingents (short sale listings) have the following averages:
3 bedrooms, 2 bathrooms, 2413 sq ft, $304K, 149 days on market.
Our 4 pendings, which include short sales which have finally received bank approval, have the following averages:
3 bedrooms,2 bathrooms,1860 sq ft, $ 304K, 63 days on market
In May 2013 there were NO homes sold in Pine Valley. But a few will be closing escrow soon.
The short sales continue to add dramatically to the total time on market. Watch for this new trend to continue: the banks are now frequently coming back with higher dollar counters than the original contracted sales price, even on cash offers with no appraisal contingencies.
Stay tuned for more news and events from Pine Valley, CA.
Call/write/text for the updates you’ve been hunting for!
© 2013 Barb Fischer San Diego La Mesa
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