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The number of
active homes in Ruby Hill slipped to just 3 by December end, with no new short
sales or bank owned properties. Although it is typical to see an inventory
decline during the holiday season, this year’s supply side has been
particularly low. There were 6 pending homes – just 2 homes went contract during
the month. This was more a reflection of low inventory as opposed to reduced
buyer demand.
2012 showed
great improvement in higher end home sales. Ruby Hill fared well with a total
of 62 homes closing escrow during the year. The highest price home sold for
$3.9 million at $433 psf. Twelve of these 62 homes were sold for over $2
million – considerably more than last year. The jumbo loan comeback has
contributed to the improved sales at the higher end. The average psf of all
homes sold was $341 psf. The distressed home sales share of the market has
declined as compared to last year, which bodes well for future pricing.
|
December End
|
Total
|
Bank owned share
|
Short Sale Share
|
|
Active
|
3
|
0
|
0
|
|
Pending
|
12
|
0
|
0
|
|
Sold to date 2012
|
62
|
5
|
4
|
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