Felton, CA

Felton Home Sales, Prices and 2011 Market Update

2011 –year in review

63 homes sold in Felton during 2011. The average home price fell about 23% when compared to 2010. The average home sales price was $328,643, taking an average of just over 3 months (101 days) on the market prior to going into escrow. The discount between the list price and eventual sale price was 4% overall.

The highest priced home sold for $736,861 – this was a bank owned 5 bedroom, 3 bath home on 22+ acres.

The lowest priced home sold for $44,000 – it was a tiny, bank owned, burned down home on Highway 9.

Why did prices fall so dramatically? In my opinion, the main reason is that the number of higher end homes - those selling for more than $500,000 - shrank from 14 in 2010 to only 5 in 2011. On the other hand, in the affordable and fixer-upper home segment, 28 homes sold in 2011 for less than $300,000, nearly 3 times the number (just 10) that sold in that price range in 2010.

63% of all sales (40 houses) were distressed sales in 2011 - homes that were either foreclosures or short sales. All but 2 of the affordable segment were distressed sales – just two were normal, owner occupied sales. This is in contrast to 2010, when 47% (28) were distressed residential transactions.

In conclusion, prices fell due to the mix of homes that actually sold as much as anything else. Most buyer activity is either first time buyers or investors.

What I am seeing is that many people who might be trying to move up into a bigger home, or downsize into a smaller home, are waiting for the market to recover before they put their home on the market. A few people are able to rent out their homes, and taking advantage of low interest rates to buy a second home that suits them better.

If you would like to find out what your home is worth now, click here

2010 –year in review

In 2010, 60 homes sold in Felton. The average home sales price was $427,195, taking an average of 80 days on the market prior to going into escrow. The eventual sales price was an average discount of 2.2% off the list price.

The highest priced home sold for $795,000 – a lovely owner occupied 4 bedroom, 3 ½ bath home on about 3 ½ acres.

The lowest priced home sold for $97,000 – a small 1 bedroom, bank owned cabin.

Source: MLSListings.com, Single Family Dwellings

San Lorenzo Valley Housing Market Update 2011

photo credit: John Urwin

This market report focuses on the towns of

Boulder Creek, (left), Brookdale, Ben Lomond, and Felton,

all situated in the San Lorenzo Valley region of the

Santa Cruz Mountains.

For the 4th Quarter 2011: Home Sales Rose; Prices fell

87 homes sold in the 4th Quarter of 2011, at an average price of $286,000 The most expensive home sold for $682,000; the least expensive $44,000. Only 7 homes sold for more than $500,000; 22 homes sold for less than $200,000.

70 Homes sold in the 4th Quarter of 2010, at an average price of $360,000. The most expensive home sold for $750,000; the least expensive $28,000. 14 homes sold for more than $500,000; 15 homes sold for less than $200,000.

If you are a buyer in the under $300,000 price range, prepare for steep competition from other buyers! Most of these entry level homes are getting multiple offers - all from buyers with updated pre-approval letters from lenders - some offering all cash and no loan contingency. Click here for help finding your dream home in the San Lorenzo Valley.

If you are a seller, prepare to have your home compared to distressed properties. Have an agent walk through your property prior to putting it on the market: they can give you economical tips to bring out your properties best features, and advise you of the likely price range today's value conscious buyers are willing to offer you. Click here to discover what your home is worth.

If you are a homeowner in distress, please don't wait until the last minute to contact a REALTOR. We have the tools to help you minimize your credit damage, and in many cases can even get you money to help you relocate from your underwater home.

For the year 2011, Home Sales Rose; Prices fell.

The market was dominated once again by distressed sales. 115 of the 253, or, 45% of the homes sold were foreclosures, and 40 (16%) were short sales. Only 42% were noted on the MLS as ordinary sales. 13 homes sold for $100,000 or less, but only 12 homes sold for over $600,000.

While about the same number of homes sold for under $100,000 this year as last year, the number of higher priced homes (above $600,000) dropped dramatically - just 12 this year versus 22 last year. This is what dragged the average price down, compared to 2010.

During 2011, 253 homes sold, at an average price of $320,779. The median price was $307,900 - meaning half of the homes sold for less, and half for more. The highest price home sold in 2011 for $875,000: This was a farmhouse situated on 27 gorgeous acres bordering Fall Creek State Park. The lowest priced home sold for $44,000: this was a burned down, foreclosed home sold at auction. The average days it took a home to go into escrow was stable at 93 days.

In 2010, 82 of the 234 homes sold were foreclosures, and 41 were short sales, so 53% of sales were distressed. The average price was $373,200; the median was $372,000. The highest price home sold for $800,000, while the lowest price home sold for $28,000. 12 homes sold for less than $100,000, while 22 homes sold for over $600,000. The average time on the market before a home went into escrow was 97 days.

SAN LORENZO VALLEY HOME SALES - REAL ESTATE VALUES REPORT MID YEAR 2011

It has been a extremely busy year for San Lorenzo Valley home sales so far this year of 2011. San Lorenzo Valley is located in Santa Cruz County along Highway 9 and incorporates the towns of Felton, Boulder Creek, Ben Lomond, Lompico, and Brookdale. San Lorenzo Valley home sale prices tend to be lower on average than most of Santa Cruz County because the location is not very central/close to the beach and it is located in the mountains. San Lorenzo Valley is a beautiful area in the Santa Cruz Mountains filled with redwood trees, creeks and State Parks like Henry Cowell and Big Basin.

Let's take a look at San Lorenzo Valley home sales and real estate values for the first part of 2011 (Jan 1st to June 2011)

So far this year 2011 there have been 115 San Lorezno Valley Home Sales (Felton, Ben Lomond, Boulder Creek, Brookdale, Lompico)

The average price of a San Lorenzo Valley home sale was $344,000. This is lower than Santa Cruz County as a whole where the median home price in April 2011 was $455,000. San Lorenzo Valley homes for sale are attractive to first time home buyers as well as investors because of their lower prices.

The highest priced San Lorenzo Valley home sale in this time period was a beautiful 27 acre property in Ben Lomond with an older farmhouse. It sold for $875,000.

The lowest priced San Lorenzo Valley home sale was a red-tagged foreclosure that sold for $56,500.

Contact me for a current list of San Lorenzo Valley homes for sale and more information about the towns of Boulder Creek, Felton, Ben Lomond, and Brookdale.

Felton California median home price is $399,000

Felton is worth the time of any homebuyers consideration.

Living or buying Felton Home means scenic redwoods where you can spend your days off, hiking, biking and equestrian trails, picnic areas, campgrounds and 80 miles of trails. Henry Cowell Redwoods State Park featured in this video contains a centuries-old Redwood Grove and a self-guided nature path which adorn this quaint community.

Felton is also home of the famous Felton Covered Bridge and the Roaring Camp Railroad. It's many diverse neighborhoods including Zayante, Fall Creek, Mount Hermon, El Soylo Heights, Forest Lakes, and Empire Grade.

Residents enjoy the best of both worlds in this old-fashioned town with its untouched natural surroundings and charming downtown area and shops, but only a short drive from the Pacific Ocean and the City of Santa Cruz.

Disclaimer:The copy has been changed. Unintentionally this blog was first posted with copy that was copied VERBATIM from MCDwyer.com's website about Felton,CA. I have removed her copy.