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While Santa Ynez Valley real estate sales were rockin’ and rollin’ last week, the lack of sales this week is much more typical of August. Putting aside the staying power of distressed property buyers, many others seem to take August (and often September) off, perhaps for vacation and/or getting the kids ready for school. So, no surprise that we had no new residential sales this past week. That being said, I wasn’t certain that the August Blahs would occur this year, given the burst of sales activity over the past few months and the positive news about home prices. I may be making the August Blah call too early. We will see.
The average sales price of the four properties that sold final was $702,500. While the average days on the market for the four was nearly four months, three of these properties went into escrow within the first month of listing. The fourth sold quickly after relisting, however, it had been on the market previously for about a year. On average, these properties sold at 95% of both the last and original listing prices. Here are the details:
2476 Roblar, Los Olivos, Sold for $1,675,000. This exquisitely update home on nearly 5 acres, with charming guest house, pool and views, on the edge of Los Olivos went into escrow during its fourth week on the market with multiple offers. It was priced at $1,800,000, selling then at 93% of the listing price.
2765 Grand Ave, Los Olivos, Sold for $515,000. This property, offering an appealing 1900+ sq ft home on a half acre, had a bumpy market history, with a number of offers not making it to the finish line. The property was initially listed in July 2011 at $525,000 according to our MLS record (I thought it was higher). Anyhow, it looks like an offer at $515,000 came in and was accepted and closed quickly. The property was re-listed at $515,000, perhaps in response to this offer, thus it appears that the property sold at full price in a couple of days. This property sold for $899,000 in 2006.
1665 Laurel, Solvang, Sold for $224,900. This 850 sq ft, one bedroom home on nearly 1/3 acre, is zoned for multiple units. It was sold in a matter of days in “as is” condition, with no value given to the structure. It sold for the listing price.
551 Dawn Dr, Buellton, Sold for $280,000. This clean 3 bedroom home on .16 acre sold in a matter of days with multiple offers. It sold at $10,000 over the asking price of $270,000, and $30,000 over the selling price in 2000.
Are you toying with the idea of buying a Santa Ynez Valley property? This may be the time to pull the trigger. For more information on our inventory, including pocket listings, please do get in touch with me. You can call or text me at 805 588-3616, or email me.
So that’s it for tonight.