The trend in San Pedro real estate sales looks to be a hot one in the month of July. Homes are selling quicker as interest rates remain low. There are only 92 single family homes for sale in the city.
July 2016 Numbers for San Pedro Homes that Sold
Let’s break that down further.
- Two bedroom homes are selling for $502,333 which is up 10% over 2015
- Three bedroom homes are selling for $615,300 which is up 6% over 2015
- Four bedroom homes or more are selling for $743,220 which is up 9.4% over the previous year in July 2015
Your home’s value is determined based on square footage, condition and location. Key indicators of our listing inventory is the number of new listings that are coming on the market. In July, 506 single family homes came on the market which is down 21.30% from 2015.
Video of San Pedro Real Estate Sales
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Pricing San Pedro Homes Right and They Will Sell
San Pedro homes are selling for 98.80% of the last listed price overall and 96.9% of the original listed price. The average price per square foot is $331. This number varies when it comes to square footages and number of bedrooms. I have noticed that at the higher square footage ranges that the price per square foot goes down.
That’s because San Pedro homes are evaluated by square footage range and by location…by Realtors and appraisers. Looking at computer models from popular online home magazines like Zillow, Trulia or Realtor.com for pricing is not what the real estate professionals use.
For example, a two bedroom home with less than 1,000 square feet is selling at $510 per square foot. If the two bedroom home has 1000 to 1200 square feet, then the average price per square foot is $420. If you move that house closer the ocean, the price goes way up.
If you are thinking of selling your home in 2016, contact our San Pedro real estate team to understand the current market value and how much you will net from the sale.