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Your Chula Vista MLS Experts Zip Codes 91913, 91915
Homes for Sale in Otay Ranch Chula Vista California Real Estate Update
Otay Ranch is comprised of two zip codes, 91913 and 91915. Most of Otay Ranch is in 91913. Otay Ranch is
east of 805 and is comprised of new and newer master planned communities. Some of them include; Hillsborough, Windingwalk, Countryside, Heritage, Heritage Hills, Montecito, Montecito Ridge and more. There are also many brand new homes for sale in Otay Ranch.Because many agents don’t specifically put in the community “Otay Ranch” I cannot specifically select all homes and condos in Otay Ranch, it wouldn’t be accurate. I will show you statistics for 91913 which is mostly Otay Ranch with older parts of EastLake and older parts of Chula Vista. I will also show you statistics for 91915 which is Otay Ranch “Windingwalk” and parts of EastLake like EastLake Greens, EastLake Trails, EastLake Vistas and EastLake Summit.91913
Homes for Sale in Chula Vista 91913 California Real Estate Update
Homes sales in Chula Vista 91913 for the month of September 2007 were very disappointing with only 14 homes selling for the month. The average sales price was $550,064 with the average list price being $567,642. The highest priced home that closed escrow in September 2007 was $800,000 and was 5 bedrooms, 5 baths and 3,744 square feet.The least expensive sold home was $425,500, marketed at $425,500 and was 3 bedrooms, 3 baths and 1,559 square feet. The average “Days On Market” DOM was 123 days with the longest DOM being 224 days. 91913 Chula Vista includes older areas of Chula Vista like College Estates as well as newer areas like Otay Ranch and parts of EastLake.
There are 340 homes for sale in Chula Vista 91913 right now with 30 homes in escrow. The statistics show that half of these homes will fall out of escrow and go back on the market. The average list price for the homes in escrow is $545,727 with the highest priced home being $718,900 and the lowest priced home being $397,900. The average days on market for homes in escrow are 100 days. Out of the 30 homes in escrow 13 of them are bank owned homes “FORECLOSURES”, 4 are short sales, 3 are brand new homes in the MLS, and 10 are homes owned by homeowners listed by agents that are not short sales or foreclosures. The statistics show that many homes in this area that are for sale are bank owned. The problem with this is that banks will take less money than a homeowner, leaving homeowners with a “No Sale” or a drastically reduced sales price if they accept an offer. The lower priced sold homes are driving down prices and bringing down appraisal values as well. There were 21 expired listings, 28 cancelled listings, and 18 withdrawn listings that were homes in the month of September of 2007 in Chula Vista 91913.
Condos for Sale in Chula Vista 91913 California Real Estate Update
Chula Vista Condos in 91913 has us looking at stats that show that only 3 condos closed escrow in September of 2007. 2 of these Chula Vista condos were bank owned “FORECLOSURES” and 1 was a short sale. The average list price for these close condos were $304,666 with average days on market being 86 days.
There are 183 condos on the market and with only 3 closings last month this is not a good trend for condo owners in Chula Vista looking to sell. This means that 1.6 condos per 100 for sale in Chula Vista 91913 will actually sell per month. There are 14 condos in escrow for zip code 91913 Chula Vista and stats show that the majority of these condos will fall out of escrow and go back on the market for sale. The average list price for these condos is $368,499 with an average market time of 133 days. There were 19 expired listings, 3 cancelled listings, and 10 withdrawn listings that were condos in the month of September in Chula Vista 91913.91915
Homes for Sale in Chula Vista 91915 California Real Estate Update
Chula Vista 91915 an area that includes EastLake Trails, EastLake Greens, EastLake Vistas, The Summit at EastLake and Windingwalk in Otay Ranch had 14 homes close escrow in September of 2007. The average sold price was $662,961 with an average list price of $683,861. The highest priced home sold in 91915 Chula Vista in September was $1,200,000 and was 4 bedrooms, 3.5 baths and 3,517 square feet in EastLake Vistas. The lowest priced home sold was $396,000 and was 3 bedroom, 2.5 bath and 1,341 square feet located in EastLake Greens. The average market time was 60 days with the longest being 153 days on the market.
91915 as well as many other areas of Chula Vista have been hit hard with bank foreclosures and short sales. Out of the 14 homes selling in 91915 Chula Vista in September 2007:
6 were bank owned foreclosures
1 was a short sale1 was an auction
3 were new home sales in the MLS
4 were normal “regular” sales.
A time snapshot shows us that in:
September 2007 14 homes sold
September 2006 17 homes sold
September 2005 31 homes sold
September 2004 37 homes sold
The gradual decline from the 2004 Chula Vista real estate surge is evident in the lower sales numbers. Since most sales are now bank foreclosures and many are short sales, auctions and new home sales in the Chula Vista area, this is really putting sellers in a position to sell for less than they wanted too or keep the property.
There are currently 291 homes for sale in 91915 and 22 homes in escrow. Statistics show that many of these will fall out of escrow and come back on the market for sale. The average list price for homes in escrow is $633,742 with the highest priced home in escrow at $1,085,000 and the lowest at $444,900. The average days on market is 102 days with the longest being 381 days.
The breakdown of homes in escrow is:
7 bank owned foreclosures
7 short sales
2 new home construction in the MLS
6 normal “regular” sales – 2 of the 6 are agent owned
There were 26 expired listings, 21 cancelled listings, and 21 withdrawn listings that were homes in the month of September of 2007 in Chula Vista 91915.
Condos for Sale in Chula Vista 91915
There was 1 condo that closed escrow in Chula Vista 91915 for the month of September in 2007. It was 2 bedrooms, 2.5 baths, and 1,189 square feet located in Antigua in EastLake next to EastLake High School. This condo sold for $295,000 and was on the market for 8 days. A time snapshot shows us these 91915 Chula Vista Condo statistics:
September 2007 condo sales 1
September 2006 condo sales 8
September 2005 condo sales 17
September 2004 condo sales 4
The September 2004 stat at 4 condos was only because most of the condos that are in 91915 today weren’t built yet or were being built and were new. These stats won’t show here. If there were more resale condos at the time the 2004 number would be higher than the 2005 number. You can see the drop in sales from 2005 to 2006 is half the number and from 2006 to the 2007 numbers are down by 7 homes to only 1 sale. I like to hear agents put positive spins on everything but if you’re selling a condo in 91915 these stats should have you concerned. If you’re buying you should be able to find a deal and make sure you buy your condo in Chula Vista for a low price. Call us to help you with selling or buying in Chula Vista.
There are currently 106 condos on the market in Chula Vista in the 91915 zip code. There are 23 in escrow and statistics show most of these will come back on the market for sale. The average list price for condos in escrow is $378,528 with an average market time of 48 days. Most of these are bank owned foreclosures and short sales. There were 8 expired listings, 9 cancelled listings, and 3 withdrawn listings that were condos in the month of September in Chula Vista 91915.
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