760-219-1450

SCSH Real Estate News

View from backyard to home, pool in background and tropical flowers in the foreground
NEW LISTING:
OPEN HOUSE
11 am - 2 pm,
Sunday, August 7
39804 Camino Michanito
Sun City Shadow Hills
Take a dip in the POOL or SPA while you enjoy the MOUNTAIN VIEWS from this expanded patio and yard replete with LARGE PLUMERIA and other gorgeous plantings. Room for guests or just some peaceful, quiet moments. Spacious, open Embark floorplan. Lots of upgrades.
2BD/2BA | 1,321 SF | $519,900.

Rising Inventory & Interest Rates
Affect Market

The hot real estate market at Sun City Shadow Hills is cooling as an increasing inventory and rising interest rates affect buyer demand.

13 properties sold in our community in June, down from 20 homes the month before and 23 a year ago.

In July, SCSH homes` average "days in the market" was 36 days compared to 24 days last month and 19 days a year ago.

As of August 1, the Shadow Hills` home inventory had increased to 27 active listings, up from 23 in July and 15 in June. There were 22 new listings last month while a year ago 18 homes came on the market.

Listing Prices Continue Increase

The active median price of a home at Shadow Hills rose 25% from $494,000 a year ago to $619,498 last month.

Year-over-year, the sold median list price increased from $467,000 to $588,000, a jump of 26%.

The new median list price was $609,500, up from $495,000 the year before.

Considering the active, sold and new listing price data, it appears that some sellers are overly optimistic. We are entering a quieter period for real estate activity in our valley and we expect to see summer sales also slowing because of a larger inventory and cooler demand.

Living room to patio view, pool in backyard
SALE PENDING
39086 Camino Orquesta
Sun City Shadow Hills.
This highly upgraded open floor plan Hideaway model is just 2 short blocks to the Santa Rosa Clubhouse in Phase III with its many amenities. Adjacent Phases I & II offer even more.
2BD/2BA | DEN | 1,512 SF
Offered @ $520,000.


In addition to the sales` slowdown, the "sale to original list price ratio" dropped from 104% in May to 101% in June and to 98% in July. We think the shift indicates that the era of multiple bids is ending.

 


Brainteaser

There were no solutions submitted to last month`s puzzle. And, as you know, the answers submitted in May disappeared, so we`re going to entitle our first novel "Absent Answer Anecdotes."

July`s Puzzle: How much dirt is in a 2-foot diameter hole that is 4 feet deep? Answer: A hole in the ground is empty.
 

Answer: They are fonts / typefaces.

August Puzzle: It has 18 legs, is uniformed, walks and runs on grass and artificial turf, and catches flies. What is it? 

For the first five correct entries, we donate $10 in each of the winners` names to the Galilee Center in Mecca to assist impoverished families with food baskets, rental and utility assistance and other essential needs.

Because of the disappearing answers, as promised we donated $50 to the Galilee Center.


If you have any questions about your how the real estate market is affecting your particular property, simply send us an e-mail. We`ll be glad to answer your questions.

As the above numbers and analysis show, we are still in a strong sellers’ market in the midst of our prime sales season. Anyone who is thinking about listing their home for sale should consider making their move now.

Please contact us if you would like to learn more about your options, including a free home valuation to see what your home is worth in today’s market. And when you list your home, a complimentary staging consult will be offered. We are ready to serve you.


Bonnie and Hank Steele began work as Realtors in 1983, They have successfully listed, staged and sold homes in suburban New York City, St. Simon`s and Sea Island, Georgia, and the Palm Springs area. To sell your home safely in the shortest possible time at the highest possible price, call 760-219-1450