The following data are for zip codes 93907 and 95004.
As of December 31, the active listings in these zip codes stood at 60,up from 59 on November 30. They range from $99,000 to $950,000. The low price is for a small tear-down house on 2 acres and the high price is for a beautiful new home of over 4400 square feet on acreage. The median price is $327,800. There is quite a variance in the properties in terms of size, location, lot size and age, accounting for the differences. Some of them represent very good values. The median number of days on the market is 67.
As of December 31, there were 68 houses in various stages of escrow, down from 69 at November 30. These range from $82,900 to $895,000 with a median of $274,000. The median number of days on market was only 22, a very good and surprising fact. The reason for it is largely due to the idea that appealing houses are not coming on the market fast enough to satisfy the demand.
In the previous 3 months ended December 31, 54 houses closed escrow, up from 52 at November 30. The range was from $80,000 to $535,000 with a median of $249,000. The median number of days on market was an amazingly low 22. In analyzing the data, I was amazed that many sales were at or above the asking price and took place in 0 to 10 days. There were very few major discounts in the remainder.
The supply of unsold inventory (determined by dividing the present number of listings by the number of sales over the previous 30 days) is down further to only 1.67 months. This means that all current listings would be sold in only 1.67 months, a fair indication leading to a seller's market. Even so, prices are not shooting up but appear to be leveling a bit.
People are still picking up properties at incredible values financed with great interest rates - 4% to 4.5% but check with your lender for availability and APR. Many of the sales are bank-owned houses. However, we do seem to be seeing a higher incidence of regular sales. Some astute owners are taking advantage of the situation to make a move now either up or down. Is your personal economy strong enough to consider the same?
I am encouraging my clients to work with highly qualified lenders with deep experience and lines of credit, lenders like our affiliate, Princeton Capital, a nationally recognized mortgage banker. We have an outstanding and experienced Princeton agent in my office. He stands ready to serve you.
You will need the benefit of experience in this market and I encourage you to call or e-mail me with any questions. I am more than happy to provide you with a no-obligation market analysis of available properties for buyers or potential selling prices for sellers. And, I'm never too busy for referrals to others who may need help.
ZIP Code: 93907/95004 Approximate Location Boundaries: Surrounds the confluence of 3 county lines: San Benito, Santa Cruz and Monterey.
Location Characteristics: The zip codes 93907 and 95004 represent the unincorporated communities of Prunedale and Aromas. They are the transition from San Benito County to Monterey County along US 101 and to Santa Cruz County along CA 129. Rural in character, a lot of sites are 5 acres or more, accommodating the many equestrians who inhabit the area. Most homes are relatively modest but some are quite elaborate. Some even qualify as "estate" quality including some that have private gates or are in private gated communities. The area should definitly be on the radar scope for house shoppers in all price ranges.
Prunedale has the more extensive commercial facilities with major groceries, banks, etc. Aromas has a small core area that is very limited of stores. The proximity to Highways US 101 and CA 129 provide good commute routes to Monterey County, Watsonville and Silicon Valley. Major shopping is South in Salinas and Monterey or North in Gilroy, Morgan Hill and San Jose.
This microclimate is strongly influenced by Monterey Bay, just a few miles away with beautiful beaches, fishing and other attractions. Even the warmest days will be cooled to a comfortable level in the early evening by breezes from Monterey Bay that will usually bring a pleasant cloud cover as well. It's importance lies in the fact that it provides a desirable rural area close to work centers with a wonderful equestrian environment as well as a relaxing place to live but not too far from the conveniences provided by the city.
Come and check out Prunedale and Aromas. There could be just the right answer for your future home or even a second home. In addition to homes, there are some choice lots available as well.
About Jack Markle:
As a licensed broker since 1980, I have applied my skills, knowledge and professionalism to assist many people in the buying and selling process. A real estate loan agent for some years prior to that gives me an unusual perspective on that process. With a broker's license, it means that I can hang my shingle anywhere and ply the trade. Instead, I prefer to continue, after 15+ years, under the auspices of Coldwell Banker where I find a unique environment in which to practice. We have a marvelous marketing department that provides simply outstanding backroom support. Our on-staff legal department is second to none. Although they cannot offer our clientele legal assistance, they do help us and assure us of the latest knowledge in real estate legal matters. So, it's a great combination of talents. With my lifelong residence in the greater Bay Area, I offer one-stop service over a significant area. So, if you choose to move locally, I am here to help at both ends.
These reports reflect the views and opinions of their authors and are not necessarily the views and opinions of Realty Times.
