North Hills/Sierra Norte/Los Pinos Market Report January 2015

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The current market for North Hills, Sierra Note and Los Pinos is ready for a rebound year after a tough 2014.  The area that contains North Hills, Sierra Norte and Los Pinos experienced a bit of a down turn in 2014 after a good year in 2013.  Homes for sale dropped 5%, new listings dropped 2%, and the number of sold listings dropped an astounding 25%.  With all of these figures dropping, one very important statistic that only dropped slightly was the average sale price, which only fell about 3%.  What these figures mean to a home owner is that during 2014, the average home in the area sold for about $4700 less than in 2013.  This is great news for prospective buyers, though.  Many great homes are available in these neighborhoods that are great values!  When you combine the values in these neighborhoods with the improving mortgage market with very low rates and reduced mortgage insurance payments, more people will be able to buy this year.  As these value priced homes are snapped up by buyers, the prices in the neighborhood should begin to rise and home owner equity will increase.  If you are a home owner, you can contact me for an estimate of what your home may sell for at paul@bluedoorhomes.net.

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