Townhomes with Garages in Covina 91722
A Market Update
This is a real estate market activity report for the Nantucket Village townhome complex in Covina zip code 91722. I will share information for
activity so far in 2017 with a recap of sales for the previous five years. Statistical information in this report has been gathered from our local multiple listing service(mls) and may not include all transactions in the development.
The gated complex with its Cape Cod-inspired architecture consists of 76 two story townhomes in a variety of floor plans ranging in size from one bedroom/one-and-one-half baths to two bedrooms/two baths and a loft area. Each Nantucket Village townhome has direct access to a private two car garage. Other features in the units include: vaulted ceilings, fireplaces(in some plans), patio areas and washer-dryer connections.
The nicely maintained complex has extensive mature landscaping with a pool, spa and lounge area. There is guest parking within the complex.
The location of Nantucket Village in Covina is east of the San Gabriel River(605) Freeway between the Foothill(210) and San Bernardino(10) freeways and located off Azusa Avenue. Covina is in the San Gabriel Valley of Los Angeles County and is about 26 miles from Downtown Los Angeles. The Covina Metrolink station is about two miles away. It is less than five miles from Citrus College as well as Azusa Pacific University both of which are very close to a Gold Line light rail station which opened in 2016. There is shopping, dining and entertainment options nearby as well as in Downtown Covina.
There is currently one Nantucket Village townhome on the market for sale. Newly listed is a one bedroom/one-and-one half bath loft floor plan with approximately 827 square feet priced at $275,000. There is a two bedroom/two bath unit that is temporarily on hold according to the listing agent. There have been no sales reported so far in 2017 according to mls statistics.
In 2016, there were three mls-reported closed transactions. Each was a two bedroom/loft floor plan with approximately 1335 square feet. They sold between $320,000 to $346,000 with an average sales price of $333,667(median sales price $335,000). Each sold above their last list price for an average 101.42% and for $249.94 per square foot.
There were no closed transactions reported in the complex in 2015.
There were two reported sales in 2014. In March a two bedroom floor plan closed for its last list price of $289,000 and in September a one bedroom loft style unit sold for $227,000(last list price $229,000).
In 2013, there were eight sales ranging from $188,500 to $310,000 with an average price of $253,750(median $270,750). All but one sold at or above last list price for an average 102.63% and for $223,35 per square foot. The low sale was a one bedroom loft floor plan which was a short sale with a notice of default filed and was a cash transaction.
There were six closings in 2012. The transactions covered a variety of floor plans and ranged from $163,000 to $247,000 with an average of $213,583(median $219,500). All but one sold at or above last list price for an average 99.84% and for $188.87 per square foot.
While prices have increased in recent years, this Covina townhome complex remains an excellent value. Although limited, there are some new and newer construction townhomes and single family homes in the area at higher prices which I believe puts Nantucket Village at an advantage with more land associated with the complex and very competitive pricing when units are available.
If you are a prospective buyer or an owner thinking of selling a Nantucket Village townhome, more detailed information is necessary for crafting an offer to purchase or establishing the best possible marketing strategy in order to be successful in today’s market. In addition to the size, I suggest reviewing condition, updates(or lack thereof), location within the complex, emotional appeal and timing.
If you would like to know more about Nantucket Village or any San Gabriel Valley real estate, let’s discuss what is important to you. I can be reached at 818.516.4393 cell. Let’s discuss what is important to you.
Published: March 27, 2017
Townhomes with Garages in Covina 91722