email: [email protected]
My analysis of year to date, meaning January 1-May 21, Santa Ynez Valley residential (non condo) property sales in 2012 vs. 2011, I came up with some surprising results. (See chart below).
While all of these numbers are effected by the number of short sales and foreclosures, it does certainly appear as if the Seller’s of non-distressed properties are taking into account the reality of the current market. There is no evidence that Buyers are paying up.
The big take-away for serious Buyers is to pay attention to the typical discounts, 7-8% from last listing price and 17% from original listing price when considering an offer. This information, couple with comparable (to the property of choice) sales information should provide reasonable guidance in the offering and negotiating of a purchase.
For a comparable sales analysis for your property of choice, please go to Property Values Buyers button at the top of my home page and enter and send your information.
Please contact me for more information or with comments. Text of call 805.588.3616 or email me at [email protected].
|Jan 1-May 21||2011||2012|
|# Residential (non-condo) sales||62||57|
|High-Low Price||$1,750,000 – $230,000||$5,100,000-$280,000|
|Average Sales Price||$676,000||$691,000|
|Average Days on Market||237||199|
|Sales Price/Last Listing Price||93%||92%|
|Sales Price/Original Listing Price||50%||83%|
|Loss Per Day From Original Listing Price||$2,932||$715|