Newcastle, Ca Homes for Sale and September - November 2007 Statistics
Newcastle Homes for Sale
The number of homes for sale in Newcastle is lower than the number for sale on September 19th. The average asking price, median asking price and average asking price per square-foot have all increased during the same period.
Of the 33 homes for sale in Newcastle, 3 are bank owned and 0 are short sales.
The least expensive home for sale in Newcastle is a 1,382 square-foot bank repo home on Threlkel Street, which is listed for $249,000. The most expensive home for sale in Newcastle is a 1,754 square-foot home on a 59 acre lot that is sub dividable to 5 acre lots on Highway 193, which is listed for $4,600,000.
To view the photos and details available for these homes, along with all other homes for sale in Newcastle, click Newcastle homes for sale.
The number of homes pending sale in Newcastle has decreased since September 19th.
Newcastle Homes Sold Between September and November 2007 vs. June through August 2007
The number of homes that sold in Newcastle between September and November 2007 was 50% higher than the number that sold between June and August 2007.
The average sales price, median sales price and average price per square-foot were lower between September and November 2007 than they were between June and August 2007.
The average number of days that it took for homes to sell in Newcastle was 25 days shorter between September and November 2007 than it was between June and August 2007.
The projected number of months inventory in Newcastle decreased from 13.8 months on September 19th to 6.6 months on December 26th.
Of the 15 homes that sold in Newcastle between September and November, 2 were bank owned homes and 0 were short sales.
The least expensive home that sold in Newcastle between September and November 2007 was a 1,364 square-foot home on 2nd Street, which sold for $245,000 after being listed for $279,900. The most expensive home that sold in Newcastle between September and November 2007 was a 4,520 square-foot home on Bridge Creek Lane, which sold for $1,239,000 after being listed for $1,295,000.
Newcastle Homes Sold Between September and November 2007 vs. September through November 2006
The number of homes that sold in Newcastle between September and November 2007 was 4 greater than the number that sold between September and November 2006.
The average sales price was higher, but the median sales price and the average sales price per square-foot were lower between September and November 2007 than they were between September and November 2006.
The average number of days that it took for homes to sell in Newcastle was 20 days less between September and November 2007 than it was between September and November 2006.
Summary
Drawing conclusions from statistics for Newcastle is difficult, because there are not that many homes for sale and therefore there are not that many homes pending sale or sold either. Even with the limitation of a low number of transactions, it is still interesting to consider the numbers.
The inventory of homes for sale in Newcastle has decreased over the past 3 months. The number of homes pending sale has decreased as well.
The number of homes that sold in Newcastle between September and November was higher than both the preceding quarter and the same quarter in 2006. Based on the decrease in the number of homes pending sale in Newcastle, next quarter's numbers probably won't be as high.
Because of the increase in sales, the projected number of months of inventory in Newcastle has decreased from 13.80 months to 6.60 months.
Bank owned homes and short sales comprise a relatively small percentage of the market in Newcastle when compared to other nearby areas.
The direction of prices in Newcastle going forward will most likely track the direction of other nearby areas, such as Loomis, Penryn and Lincoln. If the overall number of bank owned properties and short sales remain low, prices will remain stable or decline at a slower pace. If the number of bank owned homes and short sales increase, there is the definite possibility that prices will decline.
If you have any questions regarding these statistics or if you are interested in buying or selling a home in Newcastle, please feel free to call us at 916-728-1981, e-mail us at [email protected] or leave a comment below.
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