American Canyon Home Values Continue to Improve

[DavidBarker]

Another good year in 2015 for home sales and values in American Canyon. Based on sales reported to Bay Area Real Estate Information Services, the local multiple listing service, 162 homes sold in the city, an increase of 18% over the reported 2014 sales of 137 homes.

Of the total sales in 2015, approximately 51% were of newer construction (built since 2000), about the same percentage as the year before.

The average sale price in 2015 was $452,714, a 10% increase over the 2014 average sale price of $410,920. The number of days on market in 2015 were 63, slightly more than 57 days in 2014.

There were 12 short sales (when the loan balance is more than the value of the property) and 6 foreclosure sales last year compared to 18 short sales and 13 foreclosures in 2014 reflecting the decrease in distressed sales.

Most American Canyon homeowners now have positive equity in their homes. Some who purchased at the top of the market in 2005/06 or refinanced during that period still have negative equity but significantly less than in previous years.

At the beginning of January there were only 14 homes for sale in American Canyon. This is still a strong seller’s market with correctly priced and aggressively marketed homes selling quickly.

Anyone considering buying or selling a home in American Canyon should consult a local real estate professional for advice and guidance.



David Barker is a Broker Associate with Better Homes & Gardens Real Estate who has sold over 100 homes in American Canyon since 2003. He can be reached at 707.738.2650 or by email at david@CA94503.com.

[Lamarre]

Have the values of homes in American Canyon continued to rise by the way?