10 Facts About the 2019 Real Estate Market
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In 2019 there were 31 sales in The Oaks (30 in 2018). The average price per sq ft in 2019 was $852, compared to $841 the previous year.
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Homes spent an average of 49 days on the market in 2019, with an average price of $2,356,654. (49 days and $2,428,719 in 2018)
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The homes that sold in 2019 were, on average, 5% smaller than those that sold in 2018.
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The majority (68%) of the homes in The Oaks were built between 1920-1959. Before then, there were only 59 homes in the neighborhood. Only 15 new homes were built in 2000 or after. (*no data was available for 31 homes)
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Homes that are “fixers” (deemed to need a LOT of work) sold the highest above list price than other types of home conditions, selling 106.73% of the list, at an average of $741/ft and 45 days on market.
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Properties that aren’t fixers, but haven’t been updated in 10 years or more, took 14% longer than the neighborhood average to sell, and on average sold for $751/ft and spent 57 days on market.
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Recently renovated homes made up more than half of the sales this year and, on average, sold for 100.72% of list price at $938/ft spending an average of 47 days on market.
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Spanish homes made up 13% of the sales this year and sold the most over list price than any other style of architecture coming in at 107.15% of list price. Architectural and Mid-Century homes made up 45% of the sales this year and came in at 101.74% and 98.65% of list price. The neighborhood average is 100.28%.
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69% of all the homes in The Oaks are owner-occupied.
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26 homes in the neighborhood have not sold in the last 40 years.
