Sales were down significantly from November with just 13 properties closing escrow in the month of December. With 16 properties under contract during the month and another 5 since the start of January, it appears this is a sign of the seasonal shift in market activity. Of the 13 sales closing in December, 8 obtained conventional financing, 4 were cash purchases and 1 was a 1031 Exchange. This is the first month since the summer that we have seen loans more prominent in our marketplace than cash purchases. Loans represented 61% of transactions in December.
With the sales to list price ratio averaging 96.4% for December there are some important sales to point out on both ends of the spectrum. December saw 1 full price sale and 3 over list price sales fielding multiple offers in the first days of coming to the market 215 Robin Dr, 956 Fairway Park Dr and 150 Juanita Dr #19. This Village Highlands unit sets the highest recorded sale in the 23 unit complex at $2,280,000. 295 Deer Court is a recent addition to our market that may draw the eyes of those missing out on Village Highlands.
On a different note, 696 Bidwell Ct accepted an offer 6% below their active list price and 32% their original list after being on the market for 274 days. Similarly 538 Jensen Circle accepted an offer 12% below the existing listing price coming down from an original list price of $7,188,000. December saw sales ranging from $920k to $5,495M and time on market spanning 25 to 274 days.
Currently 92 properties are listed for sale, 53 single-family homes, 32 condos and 7 vacant lots. This is a significant drop in inventory from the writing of my blog last month where we sat at 106 total properties on December 4th. With winter weather now in full swing most owners that don't want to have their home listed during this time of year have withdrawn from the market and may see their return come Spring.