April 2014 San Elijo Hills Real Estate Market Update

San Elijo Hills Real Estate Market Update

For April 2014

Michael Gaddis J.D. Realty Group’s Broker Michael Gaddis details the recent real estate market activity for the San Marcos neighborhood of San Elijo Hills. If you are considering buying or selling a home in San Elijo Hills, this information will help you to make smart decisions throughout your real estate transaction. For professional boutique assistance from a real estate agent who is also an Attorney at no additional charge, call 760.487.8266 or email contact@michaelgaddis.com today.

SAN ELIJO HILLS REAL ESTATE MARKET UPDATE VIDEO TRANSCRIPT

**Video auto-transcribed by YouTube, please excuse any inconsistencies.

Hi I’m Michael Gaddis, your San Elijo Hills real estate expert. Today I’d like to talk a little bit about the state of the real estate market in San Elijo Hills. This is your April 2014 San Elijo Hills real estate market update. That is a lot to say. Short notice. So let’s get started. Currently there are 13 active listings in San Elijo Hills. The average listing in San Elijo Hills a liar the average active listing in San Elijo Hills is for bettors 3 baths 3,069 square feet. The average list price insanely high heels for an active listing is 750 9600in forty six dollars with an average list price per square foot up to 150 four dollars a square but and the average days on market is 21 days. There are currently four contingent listings in San Elijo Hills so San Elijo Hills an area that used to have a considerable amount a distress activity and contingent listings are directly related to destress oh some sorely usually listings that require some sort of approval whether it be a lender approval or our court approval. Usually they refer to short sales so currently there are4 contingent listings in San Elijo Hills. Now the average a listing for contingent is four bedrooms four batters 3500 68 square feet with an average list price is 600 93,000five hundred dollars in the average list price per square foot over 196 dollars and thirty cents. So you can tell that the average list price per square foot above the contention listings is lower than with the active listings is and you’ll see it’s also considerably lower than where the pending and soul is so what does that tell us weldon Rachels much because we don’t know what’s going to happen just because will stay a generous eller som it’s an offer to the lender for a below-market rate price doesn’t mean that lenders gonna take it. More than likely they’re going to counter back they’re going to want more money so that price isn’t necessarily reflective of the final price on and will see that as we get to the sold listings you know I’m currently there are 22 pending listings in San Elijo Hills. So San Elijo Hillson is a very active area you as you can see there’s a lot of stuff going on here on but a you know if you look back at how many listings there I mean how many active listings there are which I believe the number was on 13you can tell that the inventory is not coming onto the market as fast as it seems to be going off. There’s as I mentioned there’s 22 pending listings in four contingent listings which probably will soon be contingent. I mean pending so that there’s 26 listings the repurses 13 active so that’s definitely an indication a slowdown of some sort at least as far as putting new inventory onto the market is cancer so on the pending listings the average pending listing has 4 bedrooms 3 baths3,160 nine square feet has an average list prices850,000 433 dollars. An average list price per square foot two hundred seventy dollars which again is significantly higher than the I am and the contingent listings which is 196 is actually higher than the active list price. So it’s interesting if these things close is definitely get a boost up the price per square footage but the true indication at warehouses were is in the sole listings so currently are as a March 1st 2014in Apple this data from a sample which is the multiple listing service for San Diego County. So there the average sold price at these 20 I’m sorry the average size are these 20%uh sold listings is 3,222 square feet having forbade bedrooms and four batters the average list price for these Holmes’s 800 4200 7the average list price per square foot is 252 dollars in 84 cents. So there’s an average list price per square foot 252 dollars. An average sold price 795,000 302so here’s where we put our drum roll and because all the data that I just told you which you probably have to listen to this is the one you need to really pay attention to you this is the average sold price per square foot NAT is 249 dollars and 74 cents a square foot. So as you can see that pending listings above are trending upward at with an average pending I am list price: up two and seven dollars per square foot so the market seems to be going up the prices seem to be going up in San Elijo Hills San Marcos. So lot of times people want to know what the highest home that was sold at a particular areas during the time in this situation the the homeless over the highest price since March 1 st 2014 was located at 1056 Court Street and that’s in San Marcos with four bedrooms 5 baths5,000 25 square feet and had a a list price: uva1.4 79 on and it was listed on or8 it sold on 49that’s very unusual on but according to this data that’s what it says on and it sold for 1.4 79 million with a close a bus car data for 9 2014 which is today which again I find out a little bit perplexing I would probably want to do a little more research into that and see exactly what occurred in that particular situation. However if you have any questions about what is going on in San Elijo Hills or anywhere in San Marcos for that matter, please feel free to give me a call. You can reach me at area code 760-696-1425, 760-696-1425 or you can visit my website at WWW.MichaelGaddis.com or you can drop by my office and in Carlsbad. It’s located 6104 innovation way in Carlsbad California. So I look forward to hearing from you an answer any questions you might have and remember as always I give you more but it doesn’t cost you more.

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