There has not been a lot of change from this September vs. last September when it comes to new listings, pending sales, closed sales and days on the market. In fact the numbers are almost identical. New listings for the month of September on single family residences were 36 vs. 38 last September. Pending sales were 24 just under the 26 recorded the previous year. Closed sales fell to 32 from 34 last year and lastly, the days on market fell slightly from 63 last year to 60 this year.
However, what is quite notable and very different from last year is the median sales price and the average sales price. The median sales price was up 19.7% from $523,250 in September, 2014 to $626,500 this year. The average sale price in 92807 was up 13.7% from $592,961 to $674,297. Inventory of homes for sale is down a bit from 97 homes last year to 85 this year while the months supply of inventory is bit higher this year at 3 months of inventory vs. 2.9 from last year.
The numbers are in! For the month of July in Anaheim Hills, we saw 59 new listings in the zip code of 92807 which is a decrease of 1.7% from the previous year. Closed sales are also down with a reported 30 closings which represents a 30.2% decline. The median price of a home is up slightly to $570,000 which is up 7.8% over last year and inventory is up 21.3% with 113 active listings.
What does this mean to you? If you are a trying to sell your home, it may not be as easy as it was this time last year. There is more inventory now and buyers are becoming increasingly resistant to what they perceive as inflated prices. Buyers want value. If you are one of those buyers looking for a good value, inventory is increasing so you have more of a selection and interest rates are still fairly low. The best news of all is that there is slow and steady growth with no wild price variations.
Effective January 1, 2014, property owners who obtain permits to remodel a property that was built prior to 1994 are required to retrofit with toilets that use no more than 1.6 gallons per flush, showerheads with flow rates of no more than 2.5 gallons per minute and other interior fixtures that use less than 2.2 gallons of water per minute.
This applies to all single family property permits, as well as multifamily and commercial property permits where 10 percent or more of the square footage is included in the remodel.
By January 1, 2017, all residential properties in California that were built prior to 1994 will need to be in compliance with water fixtures as outlined above, which will bring them up to the same standards as homes built since 1994.
Don’t miss Seven Gables’ annual shredding and e-waste event which is being held this year at our Tustin office located at 12651 Newport Avenue, Tustin, California from the hours of 9:00 a.m. to 12:00 p.m.. This is the perfect opportunity to safely and securely rid your home of all those unwanted papers and old or inoperable electronic devices such as computers, telephones, VCRs and TVs. You don’t even need to get out of your car! Just pull into our parking lot and a member of our team will pick up your items and give you a certificate of disposal for your records. It’s that easy!
For more information on our shredding event, please feel free to call me at 714 801-0827 or email me at BarbaraGrandolfo@aol.com.