Real Estate - Surge in Sales
Last updated 4/9/2016 at 5:28am
As is typical of March, we saw a surge in showings and sales. Inventory dropped from 118 homes for sale on March 1, to 111 homes for sale on April 1. There are 174 lots for sale, up from 161 last month. There are ten commercial properties and multifamily home listings. In the case of single family homes, the average listed price is $330,405 down slightly from last month’s $333,153.
We have seen the average days on the market rise from 141 to 164. Typically, an increase in the average days a property stays on the market is because the home is priced higher than buyers feel it is worth. According to the multiple listing service, there are fourteen homes under contract, up two from last month. Homes under contract range in price from $6,000 for a home at RoadRunner Club to $265,000 for a home in de Anza Golf Estates. The average listed price for homes under contract is $144,923 or $108.08 per square foot down from last months $282,708 or $135.47 per square foot.
The homes under contract are, #271 RoadRunner Club, #16 and #43 in Club Circle East, 2902 Frying Pan Road, 1506 Borica Ct, 3470 Santa Saba, 1920 Lazy S Dr, 3130 RoadRunner Dr, de Anza Villas #11, 2866 Fonts Point Dr, 3141 Frying Pan Rd, 356 Velite Dr, 383 Verbena Dr. To date, thirty-four homes sold this year; ten of those were in March. The average sales price for homes sold in March was $361,943 or $146.68 versus $165,425 or $124.63 per square foot in February. This number includes homes in mobile home parks. Removing homes in mobile home parks, the average sales price increases to $384,686 or $155.02 per square foot versus $204,886 or $128.54 per square foot last month.
Breaking down sales by neighborhood, Borrego Springs Annex One 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 $347,800 or $149.23 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, Desert Borrego Tr sold for $170,000 or $194.06, Indian Head Ranch sold for $600,000 or $132.47 per square foot, Morgan Manor sold for $173,000 or $67.24 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 $322,500 or $140.72 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 $210,833 or $115.82 per square foot, Unit E sold for $239,000 or $158.28 per square foot, Unit F sold for $283,500 or $157.24 per square foot and homes not in a defined neighborhood sold for $383,995 or $176.25 per square foot.