Home Buying in 95835>Question Details

George Yorba, Home Buyer in 95835

Has the average price per square feet changed in 95835 during the past month?

Asked by George Yorba, 95835 Sun Dec 14, 2008

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Hello George. There has been a slight change in average square foot price in the past month, but what's more important is that the average sale price has declined over the past 3 months. The average sale prices for September, October and November were $286,900, 285,154 and 282,978, while the average per square foot price in November was higher than the average per square foot price in October (this is because the average square footage of homes sold in October was 2,278 compared to only 2,243 in November).

It is also interesting to note that the average sale price has been slightly higher than the average last list price for the period of September - November, which means that in September - November, the homes typically sold above last asking price. The average sale price for the first part of December is $274,026, which is slightly lower than the average last list price.

As you can see, there are a number of ways of looking at sales data. As a final note, at present, there are 312 active single family residences on the market. The average asking price is $297,162 which translates to a $134/sqft average. There are 134 pending sales with an average list price of $254,320 and an average per square foot price of only $125 (average square footage is 2,075 sqft). December should be an interesting month.
1 vote Thank Flag Link Sun Dec 14, 2008
Ute Ferdig -…, Real Estate Pro in New Castle, DE
MVP'08
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One factor that causes price per sold square foot to increase> There are investors who have purchased bank repo fixers, repaired them and then resold the rehabilitated flips. As the investors have added real value to the homes they are more valuable per square foot, driving up the average. Compare a fixer house from last month to a fixer house this month, I think the average value might have gone down.
0 votes Thank Flag Link Sun Dec 14, 2008
Jim Walker, Real Estate Pro in Carmichael, CA
MVP'08
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