After reaching their lows at the end of 2011, housing values are up by 17.8 percent, according to Zillow:
· A home is worth $654,300, which is the median value of new and used properties for sale and those that are not on the market. The median list price if $615,000 and the median sale price is $590,500. Zillow predicts price increases of 6.1 percent for the coming year.
· The Fairground had the lowest median values of $454,000 while Almaden Valley boasted the highest medians of $1,000,800.
· The biggest increase of 24.3 percent was in Santa Teresa. The smallest increase of 7.6 percent was in Almaden Valley.
About 73.3 percent of the residences in the city consist of single-family homes and 18.1 percent are condos. Just over 61 percent of the residents own their own properties.
· Nearly half of the homes were built from 1960 to 1979, and 20 percent are from 1980 to 1999. Just over 7 percent were constructed in the 21st century. The median year is 1970.
· Homes have a median square footage of 1,522. About 30 percent range from 1,000 to 1,400, with 27 percent from 1,400 to 1,800 square feet.
· The average property taxes run $5,185.
Bear in mind that these properties are typically used homes and may be missing such modern features as 10-foot high ceilings, access to a community park, stainless steel appliances, and tankless water heaters. Centered on Capitol boasts these amenities and new construction. For information about this Trumark Home community or if you want more real estate market news, please contact us.