June 12, 2024

San Elijo Hills Real Estate Market for December 2023

Key points for December 2023:

  1. Average Selling Detached Price: In November 2023, the average selling price for detached San Elijo Hills homes was $2,256,667. This figure was likely influenced by a low volume of sales (only 3 higher priced homes sold). It’s important to monitor whether this trend continues or if there are fluctuations in average prices.
  2. Property Sales and Pending Status: Only 3 homes were sold in November, and there are 12 detached homes currently available for sale. Additionally, 1 home is in pending status within escrow. These figures suggest a relatively low inventory, which could impact both buyers and sellers.
  3. Sales Price vs. Listing Price: Properties typically closed at 96% of their listing price in November. This indicates that sellers were generally receiving offers close to their asking prices.
  4. Days on the Market: The average time on the market in November was 96 days up from 33 days in November. This is attributed to typical seasonality and the low volume of sales during that period. It’s worth monitoring whether this average changes in December and January.
  5. Cost per Square Foot: The cost per square foot in November averaged $594, which was an increase from $551 in October. This could signify an upward trend in property values or a shift in the types of properties being sold.
  6. Market Conditions: With only 12 homes available for sale, there is limited competition in the San Elijo Hills market. If you’re considering selling your home, the current conditions suggest an opportune moment, especially with rates having come down in the last couple of weeks. Additionally, preparing for the spring market is advised.

Feel free to reach out for the most accurate and up-to-date information on the San Elijo Hills real estate market.

Please call/text Ed Philbrick at 760 496-8134 or Book Consultation Online 
www.hillsandcoast.com
E: ed@hillsandcoast.com
20 year resident of San Eljo Hills Lic #01967137 Coastal Premier Properties Lic #01882160