Julian, CA Market Recap January – June
The Julian market recap for 2014 is somewhat like a trip to adventure land, sometimes the rides are thrilling as the Sky Jump at the Stratosphere Tower in Las Vegas and sometimes it’s like a visit to Disneyland’s ‘it’s a small world’. I’d say the first half year is more like the latter than the former.
Comparing 2013 and 2014
For the first half or this year compared to the first half of 2013, home sales in Julian and Santa Ysabel were down approximately 4%, a total of 32 houses sold compared to 33 last year. It’s been about a year since we experienced that noteworthy decrease in distressed home sales which marked a significant change in the cyclical real estate market.
The positive news for home sellers is the notable increase in the sales price per square foot compared to last year, up 7.3% from 2013. Hence, this is a trend of improvement in home equity.
Julian Real Estate Inventory Levels Are Up
Looking at 2014 so far, inventory levels are up approximately 6% for Julian and Santa Ysabel remains neutral. Interest rates remain historically low with conventional mortgages generally fetching less than 5% interest. While it is still a buyer’s market, it’s certainly not a bad seller’s market. Because the distressed properties that brought the overall comparative home values down have mostly been sold off, equity is beginning to climb as the market continues to slowly rally. While a slightly slow start it appears we are on track to match 2013’s 84 homes sold.
My hope is that this newsletter will keep your apprised of past and current trends in the local market. Feel free to call me for more specific information!
The Following is a Breakdown of 2014 Residential Sales by Neighborhood:
Pine Hills — 5 homes sold. The average home had 2.6 BD/2.6 BA, 1,708 sq. ft. and sold at $255/sq ft. On average, these homes sold in 51 days for $427,000 at a discount of 3% under the list price.
Whispering Pines — 3 homes sold. The average home had 2.33 BD/1.33 BA, 1,153 sq. ft. and sold at $211/sq. ft. On average, these homes sold in 70 days for $246,000 at a discount of 2% under the list price.
Kentwood — 11 homes sold. The average home had 2.6 BD/2 BA, 1,481 sq. ft. and sold at $200/sq. ft. On average, these homes sold in 152 days for $285,000 at a discount of 5% under the list price.
Julian Estates — 0 homes sold.
Harrison Park— 1 home sold. The home had 2BD/2BA, 1,444 sq. ft. and sold at $231/sq ft. This home sold in 20 days for $219,500 at a discount of 5% under the list price.
Lake Cuyamaca Resort –1 home sold. It had 2BD/2BA, 1,157 sq. ft. and sold at $281/sq. ft. This home was on the market for 95 days and sold for $326,000 at a discount of 3% under the list price.
Cuyamaca Woods—1 home sold. It had 1BD/1BA, 711 sq. ft. and sold at $323/sq. ft. This home sold in 43 days for $230,000 at a discount of 7% under the list price.
Wynola Estates — 2 homes sold. The average home had 3.5 BD/3BA, 2,547 sq. ft. and sold at $164/sq. ft. On average, these homes sold in 155 days for $398,000 at a discount of 3% under the list price.
Shelter Valley — 3 homes sold. The average home had 3BD/1.5 BA, 1,267 sq. ft. and sold at $96/sq. ft. On average, these homes sold in 131 days for $105,000 at a .02 over the list price.
Cuymaca/North Peak — 1 home sold. It had 3BD/3BA, 2,547 sq. ft. and sold at $117/sq. ft. This home was on the market for 96 days and sold for $300,000 at a discount of 25% under the list price.
Julian Townsite & Outlying Areas within the 92036 and 92070 Zip Codes — 4 homes sold. The average home had 2 .25 BD/1.5BA, 1,742 sq. ft. and sold at $234/sq. ft. On average, these homes sold in 48 days for $205,000 at a discount of 10% under the list price.
