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October Home Prices in Scotts Valley Are Disappointing for Sellers

The lower prices are not good news for sellers or for cities that rely on property taxes to fund city services. For buyers, the news may not be so bad.

The median price for a home sold in Scotts Valley was $490,000 in October 2012, a 9 percent decrease from October 2011 prices. There were 14 homes that changed owners in Scotts Valley in October.

The price data was released on December 13 by the San Diego-based real estate tracking firm DataQuick.

According to DataQuick, nearly 7,800 Bay Area homes changed owners in October. The median price for a Bay Area home was $416,000.  Sales volume was up 160 percent in Burlingame and Hillsborough as well. 

The San Francisco Chronicle reports that the generally higher prices for homes are due to a confluence of tight supply, high demand and low interest rates on mortgage loans.

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Community Number Sold Median Price Oct. 2012 Median Price Oct. 2011 Percent Change

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Scotts Valley 14 $490,000 $540,000 -9.26%

More Scotts Valley real estate info:

           .        Homes for sale in Scotts Valley

           .        Rentals 

           .        Home values

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