The California Association of Realtors announced that sales had increased 12 % during July and that
“July marked the fifth consecutive month of month-to-month increases in the median price,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “This was the largest increase on record for the month of July based on statistics dating back to 1979.”
We have seen a big increase in the number of buyer's looking at property, however that activity didn't translate into an increase in new escrows this past month, in fact we saw a huge dip from the number of escrows from a high last month of 16 down to 6! The closed sales were up to 14 due to the large number of new escrows in June & July. With rates still down, we are hoping to see more buyers and more sales during the next few months.
Home Sales: Gualala (4) $260,000-$380,000, Irish Beach (1) $305,000, The Sea Ranch (9) $393,750 -$3,500,000
Home Pendings: Gualala (3) $359,000 -$525,000, The Sea Ranch (2) $625,000 - $699,000, Timber Cove (1) $499,000
New Listings: Gualala (2) $429,000 -$699,500, Manchester (2) $170,000 -$225,000, Point Arena (3) $365,000 -$425,000, The Sea Ranch (6) $375,000 - $995,000, Timber Cove (3) $669,000 -$3,499,000.