Showing posts with label Oakhurst houses for sale. Show all posts
Showing posts with label Oakhurst houses for sale. Show all posts

Saturday, July 20, 2024

Oakhurst Housing Market Update: July 2024 | Oakhurst houses for sale


As we move into the heart of summer, the Oakhurst real estate market is showing some interesting trends. Let's take a closer look at the key metrics shaping the local housing landscape.

Home Values on the Rise

According to Zillow, the average home value in Oakhurst has reached $437,816, representing a 3.8% increase over the past year. This steady appreciation indicates continued demand for Oakhurst properties, despite broader economic uncertainties.

Days on Market Trending Down

One of the most notable shifts we're seeing is in the average days on market (DOM). In June 2024, homes in Oakhurst spent an average of 54 days on the market before selling. This marks a significant 36.1% decrease compared to the same period last year when the average DOM was 84 days. This acceleration in sales pace suggests a more competitive market, with buyers acting quickly on desirable properties.

Breaking down the June sales:

  • 30% of homes sold in under 30 days
  • 60% sold between 30-90 days
  • Only 10% remained on the market for over 90 days

Price Reductions Becoming More Common

Despite the overall appreciation in home values, we're seeing an increase in price reductions. In May 2024, 23.1% of listed homes had a price drop, which is a substantial 18.3 percentage point increase year-over-year. This trend indicates that some sellers may be adjusting their expectations to meet current market conditions.

Sale Prices vs. List Prices

An analysis of recent sales reveals:

  • 66.7% of homes sold below asking price
  • 11.1% sold at asking price
  • 22.2% sold above asking price

This distribution suggests that while there's still strong demand for certain properties, buyers generally have more negotiating power than in the recent past.

Housing Inventory Levels

As of June 2024, there were 80 homes for sale in Oakhurst, a slight 3.9% increase from the previous month. The breakdown by bedroom count is as follows:

  • 1 bedroom: 2 homes (up from 0)
  • 2 bedrooms: 13 homes (18.2% increase)
  • 3 bedrooms: 45 homes (2.2% decrease)
  • 4 bedrooms: 14 homes (7.7% increase)
  • 5+ bedrooms: 6 homes (14.3% decrease)

Housing Market Competitiveness

While not as frenzied as some larger metropolitan areas, the Oakhurst market remains somewhat competitive. Redfin data indicates that some homes are still receiving multiple offers. However, the average home is selling for about 3% below list price and spending around 39 days on the market before going pending.

Bottom Line

The Oakhurst housing market in July 2024 presents a mixed picture. While home values continue to appreciate and days on market are decreasing, we're also seeing more price reductions and homes selling below asking price. This suggests a market that's finding a new equilibrium after the intense seller's market of recent years.

For buyers, this could mean more opportunities to negotiate and potentially find good value. Sellers, on the other hand, may need to be more strategic in their pricing and prepared for a potentially longer sales process than they might have expected a year ago.

As always, real estate remains local, and conditions can vary significantly from one neighborhood to another. For the most accurate advice on your specific situation, it's best to consult with a local real estate professional who can provide personalized insights based on your unique needs and goals.

Sunday, July 14, 2024

Discover Luxury Mountain Living at 53090 Meadow Ranch Road, North Fork | Oakhurst/Yosemite Homes for Sale

Nestled in the picturesque Teaford Ranch area of North Fork, this custom-built home offers an unparalleled opportunity to own a slice of mountain paradise. With 4,284 square feet of meticulously crafted living space on a sprawling 2.98-acre lot, this property is designed for those who demand the finest in luxury mountain living.

North Fork house for sale near Bass Lake

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Upon entering, you're greeted by a sweeping staircase and an open, airy interior that exudes modern sophistication. The heart of the home is a great room, where soaring ceilings and expansive windows frame breathtaking views of the surrounding pristine woods. A freestanding woodstove provides a cozy focal point for gathering on brisk evenings.The gourmet kitchen is a chef's dream, featuring high-end Corian countertops, a spacious walk-in pantry, and top-of-the-line appliances. Adjacent to the kitchen, a formal dining room provides the perfect setting for elegant entertaining. This home boasts four luxurious bedrooms, each with its own en-suite bathroom. The primary suite is a true sanctuary, offering a spa-like bathroom and ample space to unwind.Exclusive community amenities include:
  • Proximity to Bass Lake for world-class water recreation
  • Easy access to the iconic Yosemite National Park
  • Biking, hiking, and watersports opportunities
  • Tranquil and private mountain estate setting
Safety features and prestigious neighborhood details:
  • Professionally landscaped grounds with an automated sprinkler system
  • Detached two-car garage with an additional bathroom
  • Spacious finished room above the garage for entertaining or guest quarters
This home stands as a testament to luxury mountain living. Imagine waking up to the crisp mountain air, enjoying your morning coffee while gazing at the mist-covered hills, spending your days exploring the natural wonders of Yosemite, and your evenings stargazing from the comfort of your own patio.For a private tour of this property, contact Justin Stoner at (805) 440-8104, Central Coast Sotheby's International Realty, DRE# 02208362.Justin Stoner, DRE# 02208362, Central Coast Sotheby's International Realty, (805) 440-8104