| Sonora CA Real Estate Weekly Update |
| Sonora CA Real Estate Weekly Update for 3/27/08 Sonora CA Real Estate continued to decline in value from last weeks yearly average of $351,273 to $343,250. Prices for homes in Tuolumne County settled a few dollars lower this week with a yearly average price of $325,799.* Home sales fell to 5 units of residential Real Estate closing and escrows opened were soft with just 4. Sonora CA Real Estate average 3 bedroom, 2 bath, 2 car garage home price over the previous 12 months is,* $343,250. Sonora Homes have an average market time of 84 days.* After being on the market an average of 145 days, there are 65 Sonora CA Homes for Sale with a median price of $429,000. In North Tuolumne County during the past 7 days, 4 Residential properties went into contract and 5 sold with an average price of $323,000 and 185 DOM In the year 2007, 10 went into contract and 10 sold with an average price of $339,400 and 145 DOM............ This week in 2006, 12 properties went into contract and 7 sold with an average price of $355,226 and 164 DOM. Back in 2005, 14 sold with an average price of $378,579 and 90 DOM.........and way, way back in 2004, 16 Residential properties sold with an average price of $241,413 and 141 DOM North Tuolumne County Real Estate average 3 bedroom, 2 bath, 2 car garage home price over the previous 12 months is,* $325,799 North Tuolumne County CA Homes have an average market time of 129 days.* There are 464 (Northern) Tuolumne County Homes for Sale with a median price of $369,900 and an average of 152 days on the market. (I know it's the same as last week except the total number of homes) 124 Homes priced under $300k (up 6 from last week) 224 priced between $300 and $500k, (Up 3 from last week) 5 Listings expired, 2 was withdrawn and 1 are TOM (Temporarily off the market). 5 Homes came back on the market (BOM) The Tuolumne County Homes Sold Report Negotiating with Homeowners. Last weeks report posted a strong “original to sold” ratio with nearly ½ of the homes closing within 5% of the seller’s asking price. 4 of these properties had a market time of 38 days and 2 of these sold at or above the listing price. I’m getting the feeling that sellers are beginning to realize that the market has changed and they need to change along with it. By pricing their homes at or nearer the market they are more likely to generate competitive interest. This is the kind of action that will help keep our market strong. Business breeds business. I’m sure that those who are continuing to purchase Real Estate in Tuolumne County would like to see a return on their investment as soon as possible and that will only happen if a there remains a healthy interest in Sonora CA Real Estate. When dealing with homeowners, even in a declining market, one has to consider the possibility that the attachment they may have to their homes will influence them when responding to your offer. Not everyone is desperate to sell or motivated buy money. There have been cases where some homeowners in good markets have sold their property at below market value to a buyer whom they liked. At the opposite end, a buyer can get off on the wrong foot by offering a sales price well below current market value. As sellers begin to respond to the reality that prices have eased and list their home accordingly, this advice may seem more relevant. The homeowner will usually allow their Real Estate Agent to let it be known that they are willing to deal and although it never hurts to ask you may be running the risk of being shut out by an offended seller. Patience is a key in negotiating and a more subtle tact seems to be the best approach in this situation. Some may think this is to soft an approach. I would disagree. Sonora CA Real Estate is unique. Very few, if any properties are alike and if you find “The One”, taking a hard line may cost you the home of your dreams. There’s no doubt, saving money is good but jumping over dollar bills and future enjoyment to scratch for a few nickels today make no sense to me. For most people selling ones home is an emotional experience and a little understanding can go a long way in this business. * These figures are based on homes with 3br, 2ba, 2 car garages and 1200 to 1800 SQFT This information is deemed reliable but not guaranteed. |
