Windemere San Ramon CA Condo/Townhomes Market Report 2014
Numbers are indicating to a buyer’s market for condos/townhomes. As of October 18th, there are only 5 homes pending and 9 homes active in Windemere. Anytime there are less pending homes than active homes, is an indicator of the shift to a Buyer’s Market.
The buyers have more inventory to choose from. However, if you are looking to sell, it’s really not the ideal time adding to the existing inventory. Of the 5 current homes pending, 3 of them had to lower their asking price to get into contract to sell their Windemere Condo/Townhome. The slowdown has been caused by more homes for sale and also the higher interest rate for attached home. Include the HOA fees to that with the higher taxes in Windemere, this has created the perfect storm. Does that mean that these homes won’t sell? The market being volatile the way it has been historically, we have seen activity pick up from absolute cold to hot within a span of days. It only takes a few jolts to the stock market to bring people back into the housing market!
For the 3rd Quarter year to date total for 2012, the average sales price was $489,398. For the 3rd Quarter year to date total for 2014, the average sales price was $677,844. That’s a whopping 38.5% increase in 2 years! Amazing for the Sellers who sold in 2014, but it also could be a contributing factor to the current slow-down. The investor band wagon has left town as the price increase did not justify the rents.
The average days on the market is also increasing. The 9 current active Condo/Townhomes have been on the market for an average of 34 days (only 2 out of the 9 have reduced their list price). The average for the current pending Condo/Townhomes is 23.
It will be interesting to see how we finish out the year. If you are considering buying a home for sale in Windemere CA, this might be the quarter to take advantage of the change in the market!
Windemere Condo/Townhomes Market Report 2014