Question; Are Corolla home prices going up yet?
Answer: Yes.
Corolla home prices are finally starting to head back into the positive. Looking at the sold data for the houses located east of Rt12 that sold in the last 2 years, we see increases in everything, including the number of units sold, the total dollar volume sold, the median and average prices. The number of units sold went up 21% to 160 single family homes and the median price went up 5% to $539,250.00.
These increases are not earth shattering and you still have a long wait if you are looking to sell when prices get back to boom time levels, but the bottom is far behind us and the outlook is up. Yay!!! It has been a long time since anyone could truthfully talk positive about the Corolla real estate market.
This chart breaks down the single family homes & condos sold in Corolla on the ocean side of Rt12 for the year 2015 and the chart below this is for 2014.
Sold Market Corolla 2015 | |||||
| No. of Listings | Dollar Volume | Average Price | Median Price | Average DOM | |
| RESIDENTIAL | |||||
| Other | 1 | $500,000 | $500,000 | $500,000 | 174 |
| Conventional | 115 | $64,031,948 | $556,800 | $492,900 | 242 |
| FHA | 1 | $199,900 | $199,900 | $199,900 | 87 |
| Cash | 23 | $17,722,938 | $770,563 | $680,000 | 237 |
| Owner Finance | 1 | $2,440,000 | $2,440,000 | $2,440,000 | 83 |
| Jumbo Loan | 19 | $34,502,087 | $1,815,899 | $1,335,000 | 226 |
| Analysis By Area | |||||
| Corolla Oceanside | 160 | $119,396,873 | $746,230 | $539,250 | 237 |
| Totals | 160 | $119,396,873 | $746,230 | $539,250 | 237 |
| Non Co-op Sales | 32 | $23,906,911 | $747,091 | $505,475 | 304 |
| Co-op Sales | 128 | $95,489,962 | $746,015 | $546,500 | 220 |
| Total Sales | 160 | $119,396,873 | $746,230 | $539,250 | 237 |
| Sold Market Corolla 2014 | |||||
| No. of Listings | Dollar Volume | Average Price | Median Price | Average DOM | |
| RESIDENTIAL | |||||
| Other | 2 | $2,614,224 | $1,307,112 | $1,307,112 | 450 |
| Conventional | 103 | $57,741,195 | $560,594 | $465,000 | 260 |
| FHA | 1 | $293,500 | $293,500 | $293,500 | 201 |
| Cash | 15 | $14,414,600 | $960,973 | $780,000 | 287 |
| Jumbo Loan | 11 | $22,745,610 | $2,067,783 | $1,500,000 | 224 |
| Analysis By Area | |||||
| Corolla Oceanside | 132 | $97,809,129 | $740,978 | $511,750 | 262 |
| Totals | 132 | $97,809,129 | $740,978 | $511,750 | 262 |
| Non Co-op Sales | 24 | $13,057,970 | $544,082 | $452,000 | 260 |
| Co-op Sales | 108 | $84,751,159 | $784,733 | $565,000 | 263 |
| Total Sales | 132 | $97,809,129 | $740,978 | $511,750 | 262 |
If you are thinking about selling your Corolla home, give me a call, or click one of the links below.
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