16 homes closed escrow in August as reported by the Multiple Listing Service as of this morning. Of those sixteen, 3 were distressed properties. The price per square foot average remained steady at $98 over the same number last month. Last year in August ten of the sixteen closings were distressed properties and the overall average per square foot price was only $82. Per square foot pricing is up almost 20% from last year in Verrado. The mean price in Verrado dropped significantly to $242,500 from the prior month but it is up from $174,000 from last year. With so few closings per month we should see wide fluctuations in the mean price on month to month comparisons. The market steady in these usually slower hot months when we tend to see prices softening. As we head into the cooler season it will be interesting to see where prices head, especially as the builder inventory of existing lots diminishes and as builders raise prices. If you are thinking about buying you may want to take advantage of the current low interest rates and pricing. If you are thinking about selling prices have not been stronger in many years. Call Amy at 623-910-1733 if you think you might want to buy or sell in Verrado or the west valley.
Tag Archives: bank owned homes in Verrado
Only 14 homes closed escrow via the Multiple Listing Service in July. That is one of the lowest levels in quite sometime and down from 28 closings in June. July was the first month in several years that did not see a single distressed property close escrow. Six of the homes that closed were traditional resales and 8 were new build homes. The price per square foot average dropped by 1% to $98 down from $99 the prior month. Meanwhile the mean price came in at $304,592, a 12% increase over last month. Traditionally the summer months are slower pushing prices lower. While the number of closings did drop significantly , the per square foot pricing remained steady and the mean pricing increased significantly. If you are thinking about purchasing a home the summer months are often a good time as there is less competition from out of state buyers. As of this post there are 51 Active listings which is one of the highest seen over the last year. Inventories could fall heading into the cooler months forcing pricing up even more. Contact me at firstname.lastname@example.org or 623-910-1733 if you wish to buy or sell in Verrado or the west valley.