May 2014 Market Update for Cheviot Hills/Rancho Park

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Cheviot Hills
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A total of 8 homes sold in the Cheviot Hills/Rancho Park area during the entire month of April 2014 compared to 2 in March and12 this same month one year prior. The single family homes that sold were on the market for an average of 22 days, compared to an average of 47 days the month prior, and sold for 105.13% of their asking price at an average of $622.35 per sq. ft. Currently, there are 17 Single Family homes for sale in all of Cheviot Hills/Rancho Park. For Sale homes have been on the market for an average of 36 days at a median price of $1,679,000. The MLS indicates there are currently 13 Single Family homes in escrow. There are not nearly enough homes available for all the interested buyers making it an unprecedented Sellers Market!


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