How’s the Market? June 2018 Snapshot

 

I hope you will find the following snapshot of local Real Estate inventory interesting. The table represents aggregated values based on MLS data for the specified date.

Housing Inventory Snapshot June 30, 2018
Average List Price 30 Days Trend Median List Price 30 Days Trend Average DOM: active/sold 30 Days Trend Number of Listings
San Bernardino County, CA
Single Family $333,143 1.37% $329,000 1.54% 64 / 41 -4 / N/A 3,601
Luxury Single Family $966,437 -5.14% $749,900 -1.33% 98 / 54 -9 / N/A 1,188
Condo/Townhome $310,996 1.46% $334,900 1.79% 45 / 29 -3 / N/A 205
Luxury Condo/Townhome $525,705 -2.79% $490,000 -2.97% 52 / 32 -26 / N/A 64
Riverside County, CA
Single Family $418,440 -1.80% $415,000 -1.17% 67 / 50 -5 / N/A 5,259
Luxury Single Family $1,494,590 -10.27% $998,000 -13.14% 129 / 161 -6 / N/A 1,741
Condo/Townhome $270,979 1.61% $279,000 0.36% 92 / 73 -8 / N/A 812
Luxury Condo/Townhome $560,182 1.60% $499,900 0.58% 123 / 94 -1 / N/A 263
Orange County, CA
Single Family $1,017,981 -2.99% $915,000 -3.58% 54 / 36 -2 / N/A 3,245
Luxury Single Family $4,948,704 -5.66% $3,300,000 -5.58% 108 / 99 -3 / N/A 1,083
Condo/Townhome $525,739 -1.47% $519,000 -1.14% 43 / 28 0 / N/A 1,279
Luxury Condo/Townhome $1,457,378 -4.57% $1,150,000 -5.12% 76 / 58 0 / N/A 427
Los Angeles County, CA
Single Family $821,521 -1.30% $700,000 -1.40% 53 / 35 -3 / N/A 7,337
Luxury Single Family $5,596,506 -3.43% $3,295,000 -5.72% 86 / 99 -5 / N/A 2,425
Condo/Townhome $545,162 -1.64% $525,000 -2.60% 46 / 30 -2 / N/A 1,902
Luxury Condo/Townhome $1,980,242 -4.23% $1,445,000 -6.71% 73 / 55 -2 / N/A 618

If you know someone who is considering buying or selling a home, please give me a call. I will provide professional & courteous service along with knowledgeable guidance throughout the process.

Regards,

Yesenia Ruvalcaba-Garcia
Broker, BRE 01293970
626-252-0839
www.NewCenturyBroker.com
www.CovinaRealEstate.com 

Sales Retreat in February while Median Prices Edge Higher

California single-family home and condominium sales fell 1.4 percent in February 2014 from January and declined 16.1 percent from Hows the market imageFebruary 2013.  Last month marked the lowest February sales since 2008.

“Rapid price increases and rising interest rates in concert with sluggish income and employment growth have slowed demand…” said Madeline Schnapp, Director of Economic Research for PropertyRadar.  “Tougher borrowing standards, elevated prices, increasing borrowing costs and historically low inventory continue to exert a drag on market activity.”

Despite the decline in sales volume, the February 2014 median price of a California home rose $5,000, or 1.4 percent, to $350,000 from $345,000 in January. On a year-ago basis, median home prices have jumped 21.1 percent.

“The uptick in median home prices in February means little as seasonal factors continue to impact both sales and prices,” said Schnapp.  “Given the lackluster sales volume, however, median prices are unlikely to see the rapid gains that characterized the first half of 2013.”

The number of California homeowners with more than 10 percent equity in their homes increased 2.3 percent, or nearly 120,000, in February.

“The decline in negative equity is certainly good news,” said Schnapp.  “But, it is important to keep in mind that 1.2 million California homeowners, or 13.9 percent, remain underwater and will continue to create significant headwinds for the California housing market recovery.”

Institutional Investor LLC and LP purchases gained 1.6 percent for the month but are down 35.4 percent from February 2013.  Despite February’s modest gain, LLC and LP purchases were 50.1 percent below their December 2012 peak.

“For more than a year now, institutional investors have been gradually reducing their purchases of California real estate,” said Schnapp.   “Rising prices have reduced the return on investment, making homes less attractive as an investment option.”

“In sum, the California housing market continues to improve,” said Schnapp, “just more slowly than most analysts expected, given that we are in the fifth year of an economic recovery.”

 

source:https://www.propertyradar.com/reports/real-property-report-california-february-2014

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