Ruby Hill CA 2017 Homes for Sale and Real Estate Market Year In Review
It was somewhat of a mixed year for real estate in Ruby Hill in 2017. Sales declined from 2017, while prices were higher. Homes also stayed on the market longer and sold for less relative to their asking price. Lower priced homes saw very strong demand, selling quicker and for closer to the list price than their higher priced neighbors.
49 sales closed in 2017, a 13% decline from 56 in 2016. The median sales price increased 22%, from $2,050,000 in 2016 to $2.5 million in 2017. The price per square foot increased a more modest 2% to $481 in 2017. On average, home sold for 95% of their original list price in 2017, down from 96% in 2016. The average sale closed in 74 days in 2017, compared to 58 days in 2016.
Homes priced at $2 million and above accounted for 75% of all closed sales in 2017. These homes sold in an average of 79 days for 94% of their list price. Lower priced homes sold for 99% of their list price in an average of 58 days. As is typical, homes in the lower price range sold for a higher price per square foot.