The State of the Ruby Hill Market
The Ruby Hill inventory declined to 21 from the previous month’s 22 active homes. Nine homes were added to Ruby Hill marketplace in June – two are bank owned and priced at a considerably lower price per square foot as compared to the other equity sales. Seven of the 21 homes have been on the market for over 3 months – all but two are priced over $2.5m. Only eight active homes are priced under $2m – the most popular price range. The lowest price per foot home is at $263 psf and the highest at $731psf, averaging at $407 psf for the active inventory.
There were 10 pending homes at June end – one was a short sale. Six homes went under contract in June, a slightly slower pace than the previous month as the summer slowdown set in. Two of these homes had been on the market for under a week. Just three of the pending homes are priced over $2.5m. All pending homes are priced in the $300’s price per sq. foot.
Nine more homes closed escrow in June making a total of 24 sold year to date this year. The distressed component is falling as a percentage of total sales. The lowest psf property sold this year is at $285 (short sale) and the highest is $390psf, averaging at $325 psf for sold homes to date.
Based on published data, there are currently there are 6 properties in Ruby Hill in various stages of foreclosure, not necessarily on the market.
June End Total Bank owned share Short Sale Share
Active 21 2 0
Pending 11 0 1
Sold to date 2012 24 1 3
For more information visit http://www.rubyhillliving.com/ or contact anju@RubyHillLiving.com
The Ruby Hill inventory declined to 21 from the previous month’s 22 active homes. Nine homes were added to Ruby Hill marketplace in June – two are bank owned and priced at a considerably lower price per square foot as compared to the other equity sales. Seven of the 21 homes have been on the market for over 3 months – all but two are priced over $2.5m. Only eight active homes are priced under $2m – the most popular price range. The lowest price per foot home is at $263 psf and the highest at $731psf, averaging at $407 psf for the active inventory.
There were 10 pending homes at June end – one was a short sale. Six homes went under contract in June, a slightly slower pace than the previous month as the summer slowdown set in. Two of these homes had been on the market for under a week. Just three of the pending homes are priced over $2.5m. All pending homes are priced in the $300’s price per sq. foot.
Nine more homes closed escrow in June making a total of 24 sold year to date this year. The distressed component is falling as a percentage of total sales. The lowest psf property sold this year is at $285 (short sale) and the highest is $390psf, averaging at $325 psf for sold homes to date.
Based on published data, there are currently there are 6 properties in Ruby Hill in various stages of foreclosure, not necessarily on the market.
June End Total Bank owned share Short Sale Share
Active 21 2 0
Pending 11 0 1
Sold to date 2012 24 1 3
For more information visit http://www.rubyhillliving.com/ or contact anju@RubyHillLiving.com
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