Home Sales Analysis in Whispering Palms for 2011 and YTD 2012 from Biszantz Connection

 

Home Sales Analysis for Whispering Palms for 2011 and YTD 2012

 

Whispering Palms is showing signs of life for a Real Estate Recovery in 2012 and 2013.

This Avenida Brisa Home is for Sale on the golf course between $1,075,000-$1,175,000.

Via De Las Palmas Home that sold 4/27/2012 for $713,000.
Avenida Feliz Home that sold 4/13/2012 for $690,000.

This Avenida Calma Home is in Escrow with a list price of $1.150mil

This Via Broma Home in Escrow with a list price close to $1.175mil

Since January, the Real Estate Market has made a dramatic turn and Whispering Palms in Rancho Santa Fe is an excellent “micro” example of the phenomenon going on. Speaking only regarding the detached housing market, currently two homes are in escrow and only two homes are on the market. For a neighborhood that has approximately 226 homes, we call that …a huge shortage of available homes for sale. In 2011 we had 7 homes that sold. That does not count what went on the market and did not sell. And last year the average square footage for all homes sold, on and off the golf course was $356 per square foot. This year we have had 2 homes year to date sell (but they were not on the golf course and needed some TLC) and we have two in Escrow that are great quality homes that also are not on the course. The two homes that sold created a year to date average of a sales price of $370 A square foot which is considerably higher than last year. How does this happen when so many golf course homes sold in 2011? Well the two homes this year that sold were smaller, not on the golf course, and both buyers plan to upgrade the homes which will be wonderful for our neighborhood. The two pending homes will bring down our running average of sales per square average, but both homes will close for well over $1mil in my estimation.
In conclusion, it looks like we are on track for sales this year. By end of the first half of the year we will have sold half of what sold last year in Whispering Palms. However, what is developing is a shortage of homes available for sale and the good news of that will drive up the market prices (law of supply and demand) and transition us from a buyers market to a sellers market. Since I specialize in listing, marketing and selling properties, that pleases me! Please look at my tab “Sales Gallery” to see how I market homes and position them to get the most showings through visual presentation and the highest price. It is all about first impressions!

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