Good Weather and Bustling Phones, Market on Rise
Last updated 3/10/2016 at 11:04am
February brought us beautiful weather and an active real estate market. Inventory rose again last month from 109 single family homes for sale on to 118 homes on March 1.
There are 161 lots for sale, up from 158 last month. There are four commercial properties and multifamily home listings. In the case of single family homes, the average listed price is $333,153, up slightly from last months $312,300. We have seen the average days on the market drop from 142 to 141.
In the spotlight this month is 1506 Borica Ct. Located on a quiet cul-de-sac; this 1,359 sq ft manufactured home was built in 2005 and has 3 bedrooms and 2 bathrooms. The kitchen has granite counter tops and upgraded cabinetry. Out back is a comfortable covered patio. 2220 Rams Hill Dr is a 3,600 sq ft, 3 bedroom, 3 bathroom home on an elevated lot overlooking the valley. Named for the vibrant orange colored walls that distinguish the property. Awarded ‘Home of the Year’ in San Diego Home & Garden Magazine, and featured in “Under The Sun – Desert Style & Architecture” by Suzi & Terrence Moore. Situated on 1-acre with an elevated lot that captures 360-degree views of the desert – from mountains to valley, sunrises to sunsets. Sold fully furnished. The spacious main house has an open floor plan with 2 bedrooms and 2 baths. Guest casita sleeps 4.
According to the multiple listing service, there are 12 homes currently under contract, down five from last month. Homes under contract range in price from $6,000 for a home at Road Runner Club to $845,000 for a home in De Anza Golf Estates. The average listed price for homes under contract is $282,708 or $135,47 per square foot down from last months $300,347 or $149.95 per square foot. The homes under contract are, #267 & #372 Road Runner Club, 2165 Hoberg Road, 3055 Borrego Valley Road, deAnza Villas #11, 470 Granada Dr, 3014 Broken Arrow, 3036 Road Runner Dr, 3141 Frying Pan, 435 Catarina, 1471 Borrego Springs Rd and 136 Montezuma Rd. A whopping 24 homes sold this year, 17 of those were in February!
The average sales price for 2016 is $197,162 or $123.75 versus $165,425 or $124,63 per sq foot last month. This number includes homes in mobile home parks. Removing homes in mobile home parks, the average sales price increases to $204,886 or $128.54 per square foot versus $179,071 or $132.52 per square foot last month.
Real Estate offices are bustling, phones are ringing and we are showing homes at level not seen for many years. Another good indicator of an improved market is the intrusion of San Diego agents into our community. These folks are quick to show up when our market is good and even quicker to leave when the market slows down. Most of these folks have absolutely no knowledge about our town and are here only to make a fast buck. Don’t be swayed by their fancy talk, they can’t do the job a local agent can do. Their biggest obstacle is that they don’t live here. How can they show your home if they have to drive 80 miles to get to it? One agent wanted to sell a home he had listed to the Home Owners Association to use as it’s office; a move that would be against the neighborhoods CC&R’s. Others have never heard of septic systems or swamp coolers. Most of the time, they just put up their sign and hope a local agent sells your property.
Local agents really do know what they are doing and will be the ones that sell your home. In most cases, local agents are more knowledgeable about Real Estate contracts than those folks from out of town. Local agents are typically involved in more contracts within a given year than what the folks from out of town can do in ten years. Call a local agent when you are considering selling your home. You will not regret it.
Breaking down sales by neighborhood; Borrego Springs Annex 1 sold for $174,000 or $128.13 per square foot, Club circle E sold for $32,500 or $37.62 per square foot, Club Circle W sold for $69,900 or $69.34 per square foot, De Anza Golf Estates sold for $241,333 or $120,42 per square foot, De Anza Villas sold for $110,000 or $81.72 per square foot, De Anza Manor sold for $225,000 or $166.23 per square foot, Desert Borrego Tr sold for $170,000 or $194.06 per square foot, Ocotillo Heights sold for $150,000 or $120.77 per square foot, Ocotillo Wells sold for $90,000 or $156.25 per square foot, Rams Hill sold for $368,333 or $140.76 per square foot, Sun and Shadows sold for $130,000 or $131.44 per square foot, Sungold sold for $135,000 or $104.47 per square foot, Unit C sold for $160,000 or $175.44 per square foot, Unit D sold for $241.24 or $109.58 per square foot, Unit E sold for $239,000 or $158.28 per square foot and a home not in a defined neighborhood sold for $247,500 or $163.69 per square foot.
Thinking about selling your home? Prices are on the rise. Call your favorite local REALTOR today for a market analysis.