May was a bit slower in terms of closed sales for the year but if you look below at the averages there was a 14% increase in Price per sq. foot.
May 2013 Averages vs. 2014 Averages.
- 3 Bedroom @ 2011 sq.ft. = $278.02 per sq. ft
- 3 Bedroom @ 1717 sq.ft = $322.18 per sq.ft.
Of course mix plays a part in this but with the demand out pacing supply we should see this continue in the right direction.
Below is a quick snapshot of what homes sold in the area during last month.
|May 2014 Portola Hills Sales|
As will note, some of these listings have been on the market for a bit, which I do find a bit interesting due to the low inventory overall. Could this be a sign of the home not meeting Buyers Key Points....?
Today's Home Buyer is very aware of what is on the market and how it is priced and are have become very discerning in their selections. In general, if the home fit's the 4 key's then it will sell and sell quickly and you will probably see multiple offers, resulting in top dollar for your home.
What are the four keys. Simple: Beautiful - Affordable - Available - Marketed. Yes, that is Right B.A.A.M. It is that simple.
If you are considering a move, you will want to make sure your home meets this criteria. Need help determining if your home does, don't hesitate to give Kelly a call. Our FREE Home/Market Analysis is created to do just that!