Weekly Santa Ynez Valley Market Report

This past week has been more active than the prior three or four, with 12 new listings, 7 into escrow and 5 sold final. Of the 7 that went into escrow, 4 were distressed sales (short sales and foreclosures).

Sold Final

Of the 5 properties that closed this past week, 4 were distressed sales. The average days on the market was only 108, which is about 65% of the days on market for non distressed properties. When you subtract the typical 45 days in escrow from the days on the market, you see that on average these properties sold in about 2 months. Here are the details:

335 Matthew Way. This is a Buellton condo which was originally listed at $239,000 and sold for $229,000

2538 Garden Street. This small, charming home in Ballard was originally listed at $499,000 and sold for $379,000.

645 Chalk Hill. This 1,800 sq ft home on 1/4 acre in Solvang sold in foreclosure for $410,000 and was originally listed for $437,000.

1272 Peterson Avenue. This new, nearly 2800 sq ft home in Skytt Mesa was originally listed for $795,000 and sold for $$685,000. It was sold “as is” .

2851 Calzada Avenue. This 11 acre view property with 3/3 bath home is located off Calzada. It was originally listed for $1,195,000 and sold for $1,120,000.

As you can see, most of these properties sold quite close to the asking price, which is consistent with the fewer average days on the market.

So that’s the round up.

Please let me know if you would like more market information as I am willing to expand this coverage.

Cheers! Enjoy your weekend

This entry was posted on Friday, February 24th, 2012 at 6:41 pm and is filed under Buyer Advisory, Properties. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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