Borrego Sun - Since 1949

Busiest summer in memory

 

Last updated 7/17/2016 at 6:41am



I opened my Coffee and Book Store business in 1991. That first summer I felt like I was alone on an island; we all joked that we could shoot a cannon off on Palm Canyon Dr and no one would notice. Our second summer, we decided to have a Fourth of July Parade so we pulled our chairs out to Palm Canyon Dr and sat there for about an hour. We waived at the cars going by, there were four and Virginia Perrine walked past us with an American Flag.

Our town has changed significantly since then. This is one of the busiest summers I can remember. We are still getting calls from folks looking for homes and willing to come look at them in the heat. Inventory in the valley continues to drop as more homes are under contract and many are taken off the market for the summer.

There are now 70 homes for sale as compared to the 82 that were for sale on June 1. There are 114 lots for sale, down from 148 last month. There are four commercial properties and multifamily home listings which is no change from June 1. In the case of single family homes, the average listed price is $333,618 down from last months $334,264. The average days on the market dropped by 8 days last month from 179 to 171.

In the spotlight this month is 3324 Bar O. This sweet mid-century home is located on an acre of land in a very desirable area with views in every direction! There are no neighbors on either side. The property is loaded with mature native vegetation that requires no irrigation. The home sits back far from the street and has a circular driveway. This home has great lines and features lots of shade on the front and back covered patios. The Ash cabinets in the kitchen are in pristine condition. Includes a large garage with front and side access. 5553 Highway 78 is a vintage 1950’s adobe, pool home, on 10 acres with both Blow Sand & Ocotillo Wells OHV in sight. Heavy lifting has already been done - this property is only a few details away from completion, creating an outstanding desert oasis home with huge vacation rental potential. Four large bedrooms, recessed lighting, antique details, mature palo verde and mesquite trees, newer commercial foam energy efficient roof, good water well. Cargo containers on site, ready for conversion into massive garage/storage space. The listing agent says that the seller is interested in financing.

According to the multiple listing service, there are 11 homes under contract, down 3 from last month. Homes under contract range in price from $48,500 for one-half of a duplex in foreclosure to $569,000 for a home in Rams Hill. The average listed price for homes under contract is $252,845 or $138.95 per square foot as compared to last months $237,457 or $132.71 per square foot.

The homes under contract are, 2855 Double O Rd, 3142 Honor Court, 3236 Frying Pan Rd, 1424 Sewanee Dr, 3325 Carillo Rd Rd, 2425 Hoberg Rd, 419 deAnza Spur, 4705 Desert Vista Dr, 1935 Rams Hill Dr, 258 Montezuma Rd, 3346 Roadrunner Dr S. 68 homes have already sold this year, 12 of those were in June. The average sales price for homes sold in June was $169,541 or $114.11 per square foot versus $153,242 or $111.88 per square foot in May.

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