Market Update February

Once again this is the time of the month to look at our numbers.

The charts and the numbers on the statistics page of the website

It is obvious we have a lot of green there…prices are holding up and even going up a bit. (for Palm Desert Single Family homes we have an exception because there was an $11,000,000 home sold and that did affect the median price)

But all in all, the numbers for January are showing the closing of escrows for homes that “sold” in December which is always a very slow month for home sales.

A real drop from 251 units to 177 units (this is for the cities I am looking at only).

The number of bank owned (REO’s) active on the market really jumped up– that means that we will have more buyers able to buy in the next couple of months. The Deals are there….

I am attaching two graphs showing

  • the “sales price to listing price ratio” and they do not go under 90%!!(what a surprise the sellers are not “desperate” in our area)
  • “one year average sales price trend comparing Q4/2008 to Q4/2007. Here too quite a surprise.

 

I hope you enjoy the updates and I would love to hear your comments

Care to Comment?  Leave a Reply here!

Your email address will not be published. Required fields are marked *