Coastal Market Review

MONTHLY MARKET UPDATE 5/1/2012

Housing affordability conditions have reached the highest level since recordkeeping began in 1970, according to the National Association of Realtors®.   NAR’s Housing Affordability Index rose to a record high 206.1 in January, based on the relationship between median home price, median family income and average mortgage interest rate. The higher the index, the greater the household purchasing power.  All very good news as we have low interest rates, large inventory of well priced homes and the economy gaining strength. Looks like a good time to buy!  After a bit of a slowing in March, new escrows were back up to 20 in April. and closed sales totaled 13.  There were only 16 new listings so once again we see inventory shrinking which is a very good sign for sellers that are looking for prices to start going up again and a warning sign to "would-be buyers" that the ship is leaving the dock!!! 

Home Sales: Gualala (3) $300,000 - $435,000, Iversen (1) $600,000, Manchester (2) $105,000 - $605,000, The Sea Ranch (6) $266,500 - $2,700,000, Timber Cover (1) $1,300,000

Home Pendings: Annapolis (1) $175,000, Elk (1) $485,000, Gualala 910) $130,000 - $1,900,000, Manchester (2) $239,000 - $525,000, Point Arena (1) $498,000, The Sea Ranch (4) $275,000 - $592,000, Timber Cove (1) $450,000

New Listings:  Annapolis (1) $83,000, Gualala (2) $372,000 - $525,000, Irish Beach (1) $198,000, Iversen (2) $449,000 - $539,000, Point Arena (1) $350,000, The Sea Ranch (7) $395,000 - $1,150,000, Timber Cove (2) $250,000 - $995,000

 

MONTHLY MARKET UPDATE 4/1/2012

The 3 month run of over the top new escrows came to an end this month but I blame much of it on a month of rain and storms, much needed rain for sure, but a drop in real estate activity.  This is of course TAX TIME which always results in a slowdown.  New escrows did hit 8 despite the weather, new listings were down a bit to 17 and closed sales were up to 14.

Home Sales: Anchor Bay (3) $185,000 - $340,000, Gualala (2) $340,000 - $688,000, Iversen (2) $425,000 - $750,000, Point Arena (1) $231,500, The Sea Ranch (6) #310,000 - $782,100

Home Pendings: Gualala (3) $345,000 - $475,000, Iversen (1) $595,000, Manchester (1) $495,000, The Sea Ranch (3) $549,000 - /41,050,000

New Listings:  Elk (1) $485,000, Gualala (3) $130,000 - $335,000, Irish Beach (1) $598,000, Manchester (1) $239,000, The Sea Ranch (12) $275,000 - $1,738,000.

New REO listing in Gualala $149,900
This bank owned home has elegant clusters of mature redwood trees, the trickling sound of an adjacent stream, & the functionality that comes with three bedrooms, two baths, & a large workshop/basement. Home has dual brick fireplaces, one in the living room & another in the basement. Conveniently located within minutes of downtown Gualala, restaurants, services, and the area's many river & beach recreational access points.

MONTHLY MARKET UPDATE 3/1/2012

We hit an all time high (at least for the last few years) of 21 new escrows in Feb. and this is typically our slow time of the year!  Good news is around every corner these days it seems; word that banks might be loosen up on credit to allow for more new loans, the unemployment rate has been going down, even news that commercial real estate is looking better.  All good signs and I hope this signals the end of this long downturn. For anyone waiting for "the bottom" we may have already hit it, so now is the time to act!

Home Sales: Gualala (1) $132,699, Irish Beach (1) $420,000, Iversen (1) $379,000, The Sea Ranch (4) $625,000 - $2,202,500.

Home Pendings:  Anchor Bay (3) $189,000 - $475,000, Gualala (4) $395,000 - $899,000, Irish Beach (1) $99,000, Iversen (2) $425,000 - $995,000, The Sea Ranch (10) $219,000 - $2,750,000, Timber  Cove (1) $1,995,000.

New Listings: Annapolis(1) $499,000, Anchor Bay (1) $189,000 (in escrow), Gualala (7) $174,900 - $795,000, Irish Beach (1) $99,000 (in escrow), Iversen 91) $399,000. Manchester )1_ $1,395,000, The Sea Ranch (10) $385,000 (in escrow) - $1,350,000.

MONTHLY MARKET UPDATE 2/1/2012

While our weather continues to be delightfully warm and sunny during the day with cold nights that bring fabulous sunsets, the real estate market has been running at all time highs with 14 new escrows in January!!  That is what we expect in the height of the summer market.  We are encouraged by this, especially since there were only 8 new listings.  However spring is just around the corner and we could see a flood of new inventory hitting the market but for the time being, things are great!

Home Sales: Anchor Bay (2) $238,500 - $300,000, Gualala (1) $119,000, Irish Beach (1) $292,000, The Sea Ranch (3) $335,000 - $925,000

Home Pendings: Anchor Bay (3) $160,000 - $369,000, Gualala (2) $365,000 - $699,000, Elk (1) $595,000, Point Arena (1) $274,000, The Sea Ranch (7) $339,000 - $849,000

New Listings:  Elk (1) $795,000. Irish Beach (1) $265,000, Manchester (1) $1,725,000, The Sea ranch (5) $259,000 - $685,000

MONTHLY MARKET UPDATE 1/2/2012

HAPPY NEW YEAR!!!  Last month was amazing when you consider that 10 new escrows is what we had this summer.  It proves that there are buyers out there and they are getting some good deals!  Over the next week I well be pulling together all the sales data for the year and will do a yearly update soon.  In December there were 11 new listings, 10 escrows and 11 sales. 

Homes Sales: Anchor Bay (2) $130,000 - $275,000, Gualala (1) $290,000, Irish Beach (1) $285,000, Point arena (1) $445,000, The Sea Ranch (6) $270,000 - $620,000.

Home Pendings: Anchor Bay (2) $275,000 - $700,000, Gualala (1) $130,000, Iversen (1) $379,000, Irish Beach (2) $299,000 - $429,900, The Sea Ranch (3) $349,000 - $995,000, Timber Cove (1) $526,313.

New Listings: Annapolis (1) $1,200,000, Anchor Bay (1) $160,000, Gualala (2) $119,000 - $475,000, Manchester (1)$525,000, Point Arena (1) $274,000. The Sea Ranch (4) $445,700 - $885,000, Timber Cove (1) $349,000 

 

Monthly Market Update 12/1/2011

November continued to be beautiful both in weather and real estate activity.  Escrows continued at their fast pace and sales were more than double reflecting October's number of new sales.  It will be interesting to note if sales continue into December. 

Home Sales: Gualala (2) $115,000 - $155,000, Point Arena (2) $130,000 - $300,000, The Sea Ranch (8) $335,000 - $875,000.

Home Pendings: Anchor Bay (2) $299,000 - $349,000, Gualala (2) $145,000 - $700,000, Irish Beach (1) $725,000, The Sea Ranch (5) $359,900 - $800,000.

New Listings: Anchor Bay (2) $130,000 - $1,850,000, Gualala (3) $250,000 - $2,875,000, Irish Beach (2) $359,000 - $449,900, Manchester (2) $495,000 - $1,395,000, The Sea Ranch (6) $395,000 - $1,100,000.

 

 

 

 

MONTHLY MARKET UPDATE 11/1/2011

October was a great month, the weather was beautiful and the sales were up!!  This is the time of year we can get visitors all the way until Thanksgiving if the weather stays nice.  With the low, low interest rates, I think people are deciding it might be time to look back into real estate as an investment opportunity.  There were14 new listings, 12 went into escrow and 5 closed sales ( a reflection of the past few slow months).

Home Sales: Anchor Bay (1) $950,000, Gualala (1) $150,000, The Sea Ranch (3) $347,500 - $1,250,000

Home Pendings: Anchor Bay (1) $275,000, Gualala (3) $145,000 - $290,000, Point Arena (1) $134,500, The Sea Ranch (7) $439,000 - $898,000

New Listings: Annapolis (1) $595,000, Gualala (2) $399,000 - $775,000. Elk (1) $745,000, Irish Beach (2) $449,900 -  $795,000, Iversen (1) $685,000, The Sea Ranch (7) $449,000 - $1,295,000

 

 

MONTHLY MARKET UPDATE 10/1/2011

On the Coastal Area of Sonoma & Mendocino Counties, much of the real estate done during the year happens in the summer when peopleflock to the coast to enjoy the cooler temperatures and of course the ocean.  While we seemed to have a good amount of visitors, real estate sales were off.  I am sure the economy (or lack thereof) has a great deal to do with this but we are seeing some unbelievable prices and interest rates are at historic lows and I can't believe we haven't seen more activity.  In September there were 9 new escrows, 8 closed sales and 14 new listings.

Homes Sales:Annapolis (1) $172,200, Gualala (2) $160,000 - 4365,000, The Sea Ranch (4) $445,000 - $855,000, Timber Cove (1) $350,000.

Home Pendings: Gualala (2) $153,000 - $179,000, Irish Beach (1) $259,000, Point Arena (1) $475,000, The Sea Ranch (5) $312,000 - $1,295,000.

New Listings: Anchor Bay (1) $369,000, Annapolis (1) $159,000, Elk (1) $1,389,000, Gualala (4) $275,000 - $975,000, Irish Beach (1) $259,000, Point Arena (1) $1,150,000, The Sea Ranch (5) $312,000 (escrow) -$649,000.  

Meadow West Lot Drastically Reduced!

 
Lot on The Sea Ranch has been reduced to $169,000.  Meadow West with ocean views and close to beaches.