Arcadia Area Market Stats for December and 2017
The holidays did not slow down the sales numbers for the general Arcadia area. In fact, it was almost identical to the previous month, with the same number of home sales and only a slight decrease in sales price. Home prices were up about 6% over last year at this time.
Below is a breakdown of total single family home sales for the year in Arcadia Proper. The number of homes sold was down only slightly. The average sale price in 2017 decreased about 8% as compared to 2016.
There were two remarkable sales in 2016, one over $6 Million and one over $7 Million. 2017 did not have any of those extreme sales, which had an effect on the numbers. If we remove those two sales, the decrease in average sales price is only 3%.
Something interesting to note, the average sold home size in 2016 was 4,199 square feet, while 2017 saw an average sold home of 3,803 square feet, a decrease of about 9%. Could this just be the sign of what was available to purchase in Arcadia or a sign that people are wanting smaller homes? We will have to see what 2018 holds!
What about off-market listings? There was actually a decrease in the number of off-market transactions in 2017 as compared to 2016. Most of the vacant land and hidden gems in Arcadia have been gobbled up.
These numbers are generated from ARMLS.