August saw some good activity in Ruby Hill with low inventories in the under $2 million price range.
| August end | Total | Bank owned share | Short Sale Share |
| Active | 24 | 1 | 2 |
| Pending | 13 | 0 | 6 |
| Sold to date 2011 | 36 | 2 | 4 |
8 new homes came on the market in August. 11 of the active inventory homes are priced over $2 million and 10 have been on the market for over 3 months. The question is often asked as what the going psf (price per square foot) rate is in Ruby Hill these days. This varies considerably depending on the quality of the home construction, the yard, the views, short sale/bank owned and so forth. Currently active properties range from $280-$545 psf!
8 homes went under contract in August – very healthy activity, given that higher end homes have not been selling well nationwide. Unfortunately a good chunk of these homes are short sales.
Of the 36 homes that have sold this year, the psf has ranged from $248 (short sale)-$397, averaging at $347 psf. An encouraging point to note is that 24 of these homes were on the market for less than 2 months before receiving an offer!
Contact Anju at www.anju4homes.com or www.RubyHillLiving.com
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