Ruby Hill home sales for July 2011

The State of the Ruby Hill Market


Activity remained steady in July with continued low inventory.

July end                     Total                    Bank owned share                   Short Sale Share

Active                        20                                  1                                             1

Pending                      11                                 0                                              5

Sold to date 2011      32                                 2                                              4


5 home went under contract in July – good activity for the middle of summer. Only 3 homes were added to the active inventory this month. About half of the 20 active properties have been on the market for over 100 days in total, some having been taken off the market temporarily and made put back on the market. Most of these are priced over $2 million. With the conforming loan limit being adjusted downward starting October, the higher priced homes will continue to feel the pressure. The single bank owned home which is currently active on the market is priced at $2.4 million for over 8,000 s.f and built in 2006. 11 of the 43 homes sold or under contract have been either short sales or foreclosures in Ruby Hill, approximately one quarter!

Contact Anju at http://www.rubyhillliving.com/ for additional information on homes for sale in Ruby Hill