Granite Bay Homes for Sale and Nov 20th 2006 to February 20th 2007 Statistics

Granite Bay Homes for Sale

As of 2/22/06, there are currently 149 homes for sale in Granite Bay, California. The average asking price for Granite Bay homes is $1,296,630. The median asking price for Granite Bay homes is $925,000. The least expensive home for sale in Granite Bay is a 1,075 square foot fixer on Northglen Street, which is listed for $349,000. The most expensive home for sale in Granite Bay is a 8,700 square foot home on Oak Creek Place, which is listed for $7,775,000. To view these homes, along with all other homes for sale in Granite Bay, click Granite Bay homes for sale.

Granite Bay Homes Pending Sale

As of 2/22/06, there are currently 46 Granite Bay homes pending sale. The average price for Granite Bay homes pending sale is $965,421. The median price for Granite Bay homes pending sale is $908,975. The least expensive home pending sale in Granite Bay is a 1,222 square foot home on Olive Ranch Road, which was listed for $319,000 when an offer was accepted. The most expensive Granite bay home pending sale is a 6,095 square foot home in Los Lagos, which was listed for $2,299,000 when an offer was accepted.

Granite Bay Homes Sold Between 11/20/06 and 2/20/07

Based on Metrolist MLS data, there were 55 Granite Bay homes sold between 11/20/06 and 02/20/07. This was up 37.5% from the 40 Granite Bay homes sold during the same period a year before and up 5.8% from the 52 Granite Bay homes sold during the preceding 3 month period.

The average sales price for Granite Bay homes sold between 11/20/06 and 02/20/07 was $893,053. This was down 1.5% from the average sales price of $906,768 during the same period a year before, but was up 3.8% from the average sales price of $860,123 during the preceding 3 month period.

The median sales price for Granite Bay homes sold between 11/20/06 and 02/20/07 was $775,000. This was down 2.3% from the median sales price of $793,500 during the same period a year before, but was up 1% from the median sales price of $767,500 during the preceding 3 month period.

The least expensive home sold in Granite Bay between 11/20/06 and 02/20/07 was a bank owned tear down home on 1.5 acres, located on Barton Road,which sold for $367,500 after asking $394,900. The most expensive home sold in Granite Bay between 11/20/06 and 02/20/07 was a 7,575 square foot home in Wexford, which sold for $2,300,000 after asking $2,499,000.

During the period between 11/20/06 and 02/20/07, Granite Bay home sellers dropped their asking price an average of 3.35% before receiving a workable offer. Granite Bay home sellers then accepted offers that were an average of 4.5% below the asking price on the day of the offer. These figures only consider the sales price and do not include any additional closing costs or credits that sellers may have made to the buyer.

There are currently 149 homes for sale in Granite Bay. An average of 18.33 homes sold per month in Granite Bay during the 3 month period between 11/20/06 and 02/20/07. Using these figures we can estimate that there is currently an 8.1 month supply of homes for sale in Granite Bay. Typically, anything over 5 months is considered a buyer's market. There are currently 2.5 times as many homes pending sale as the average number of homes sold per month over the last 3 months. If all 46 homes were to sell in the next month and sales were to continue at that pace, which probably will not happen, we could project that there would be a 3.24 month supply of homes for sale in Granite Bay. The actual number of months inventory probably lies somewhere in between 3.24 to 8.1 months. So at this time it appears that it is still a buyer's market in Granite Bay, but there are signs of movement towards a more neutral market.

Buying or Selling a Home in Granite Bay

Buyers looking in the Granite Bay market can expect to find a large inventory of homes for sale. They can also expect to have some room to negotiate on price, closing costs and time periods.

Granite Bay home owners that are looking to sell, should be prepared for the fact that there are less qualified and motivated buyers than there are homes for sale. Because of this, Granite Bay home sellers must present their home in its best possible condition and must price their home aggressively. This requires that sellers not only take into account what properties have sold for recently, but also requires that they keep a close eye on the price of properties that are going into pending sale and an eye on the price of other homes listed for sale. In many ways the pricing strategy for homes in a buyers market is similar to the bidding strategies used by buyers in the seller's market. The asking price for listings is a sellers bid for the interest of a qualified buyer. If the price is not better than the competitions asking price, there is a good chance that buyers will go for the other home.

If you are considering buying or selling a home in Granite Bay or if you have any questions regarding these statistics, please feel free to call us at 916-728-1981, e-mail us at [email protected] or leave a comment below.