Well, after missing my screen scrape last Thursday, I was anxious to see what happened in the housing market upon my return to the US.
Great news....after holding steady for several weeks, average price-per-square-foot of homes for sale dropped a whopping $4. Considering it had previously taken almost 2.5 months for the average to drop that much, dare I suggest we are on our way to affordable housing once again?
When I first started tracking in early February, finding houses sub $200 a square-foot was rare. This week 3 of the 5 houses that showed up in my criteria for the first time (either new, or dropped into my price range) were below the $200 a square foot.
There was also the typical bump in escrow closings at the end of the month. Relistings have become common.
Two houses that were pending, are back on the market. One is particularly notable. Some may remember the Folsom house on Smith Way that Zillowed for over $700,000. They were asking $350,000 as list and were going to present the top 4 offers to the lender. It went pending within a week and a half, but is now back on the market at $500,000.
Another item of note was a house I had been watching that was above my price range (since we can always lowball). I heard it went up for auction approximately $50,000 less than the last asking price. It is now back on the market (apparently didn't sell?), for $25,000 less than the last asking price. Not quite sure what they are thinking.
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3 comments:
nice blog
Great site, much appreciated.
I was just wondering what happened to the Smith Way house the other day. $161/sq ft. Going in the right direction.
Welcome back, hope you had a nice break.
It was a slow week up here in Cool/Pilot Hill, not much change in the listings, but a handful of price reductions. The average asking price/sq ft in my database for Cool (within my 400-900K parameters) is still hovering around $250. Granted the average lot size in that set is about 3 acres.
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