Evergreen Real Estate Market Update September 2017

Evergreen Real Estate Market Update Sales Trend 09122017

Evergreen Real Estate Market Update September 2017

 

 

In the Evergreen real estate market, conditions continue to favor sellers, even as fewer houses become available compared to this time last year.

The 45 new listings in August 2017 represents a decrease over August 2016 with 55 listings.

Evergreen Real Estate Market Update New Listings 0912017

Evergreen Real Estate Market Update New Listings 0912017

The Multiple Listing Service reports that in August a total of 65 single family homes were sold in the Evergreen area. This indicates a 71.05% percent increase over sales in August in 2016.

Evergreen Real Estate Market Update Units Sold 09122017

Evergreen Real Estate Market Update Units Sold 09122017

If we look at the absorption rate which shows how fast all the homes currently on the market would sell if no other homes came up for sale, it shows that there is only .5 months of supply which is indicative of a very hot real estate market.

Evergreen Real Estate Market Update Months Of Inventory 09122017

Evergreen Real Estate Market Update Months Of Inventory 09122017

Prices in the Evergreen real estate market continued to climb during that year-long period. The median price of a single-family home in the Evergreen area increased 8.01% percent between $967,500 in August 2016 to $1,045,000 in August 2017.

Evergreen Real Estate Market Update Median Price 09122017

Evergreen Real Estate Market Update Median Price 09122017

The dollar volume of sales year over year increased 78.36 percent.

In total, $74,803,499 worth of homes were sold in August 2017

Evergreen Real Estate Market Update Value of solds 09122017

Evergreen Real Estate Market Update Value of solds 09122017

If we look at the trend, you’ll see that in August 2016 “Move Up” & “Luxury” home sales were slightly above “Starter Homes”, which caused the median price to go up. In August 2017 “Move Up” sales are well above “Starter” & “Luxury” home sales causing an increase in the median price & dollar volume of sales.

Evergreen Real Estate Market Update Sales Trend 09122017

Evergreen Real Estate Market Update Sales Trend 09122017

Homes spend an average of 21.1 days on the market in Evergreen, which is a decrease from the same as in August 2016 with 31 days.

Evergreen Real Estate Market Update Average Days on Market 09122017

Evergreen Real Estate Market Update Average Days on Market 09122017

76.92% percent of homes that sold, sold for their asking price or above. This reflects a 19.62 percent increase over the same time last year.

Evergreen Real Estate Market Update Homes that sold at 100% or more of last asking price 09122017

Evergreen Real Estate Market Update Homes that sold at 100% or more of last asking price 09122017

Generally high prices, limited availability, and quick sales of those homes that come up for sale make the Evergreen real estate market a favorable environment for Sellers.

With the average sales price to list price ratio of 103.92 percent, assuming the home is priced right, sellers can expect to sell their home for at least 3.92% above the list price.

At the same time buyers can expect to pay at least 3.92% more than a home’s list price.

Evergreen Real Estate Market Update Average Sold to Asked Ratio 09122017

Evergreen Real Estate Market Update Average Sold to Asked Ratio 09122017

Coldwell Banker The Professional Group provides expert real estate services to residential buyers and sellers in Evergreen and surrounding communities.

To get a free home value evaluation or to discuss the sale of your home call us at (408) 482-5064, there’s no obligation to list your home when you call.

For additional information about the overall real estate market such as interest rates, consumer confidence etc. click on the link below.

Real Estate With Pedro Romero

Glossary of Terms

Average Days On Market (DOM): The average marketing time it has taken properties to sell.

Median Price: Sale Price that is midway between the least expensive and most expensive properties. Half of the properties sold for more than the median price and half the properties sold for less than the median price.

Months Of Inventory: The amount of time it would take to sell all current listings at the current sales pace if no new listings became available. Number of active OR pending(ie: on market) listings for the month / Number of closed sales for the month.

Sales Price to List Price Ratio: The percentage of the list price that buyers ultimately paid for the property.