Stockton Real Estate Market Report – February 2014

Summary:

  • At the end of the month there were 1,047 homes for sale in Stockton including 305 pending sales. The net inventory available for sale was 742 units, or 2.4 months’ sales.
  • The ending inventory of 742 units is significant in relationship to average sales of 307 homes per month during the 12 month period.
  • Normal pricing rules related to supply and demand do not work in this government and lender controlled market. Due to the scarcity of inventory, prices have risen steadily, and more traditional home sellers have re-entered the market.
  • There were 3,686 units sold in this 12 month period compared to 4,388 units in the prior year.

What these Numbers Mean to You:

  • Homes in the lower and mid-range sell quickly. Depending on your situation you may want to list high and push the market.
  • Interest rates are increasing and motivating many buyers that have been sitting on the fence to make a move increasing demand.
  • The reduction in distressed properties has resulted in reduced inventory levels, and has bolstered prices.
  • The average sales price is now $195,000 and the average sales price is $106 per square foot.
  • The average sales price at January 2013 was $141,000, we think this increase primarily reflects an increase in buyer demand, a reduction in distressed inventory and higher priced traditional home sellers re-entering the market.
  • 3,686 homes were sold in Stockton during the 12 month period (4,388 in the comparable period last year). Based on current inventory and sales levels it could take 3 months to sell a new listing here. If you are considering selling your home – SELL IT NOW!!!

Does it really make a difference what company or agent you choose to sell your home? YES! Choose Homes-In-Norcal.com, the top real estate company in the Central Valley.

What to do now:

If you are thinking about selling your home, call your neighborhood experts at Homes-In-Stockton.com. We understand the market and have the knowledge and experience to guide you through the complexities of today’s real estate transactions.

We have closed more short-sales transactions than any other company in San Joaquin County. Our close rate is in excess of 90%. If you would like to discuss this process as an option for yourself or for someone you know please call us today at (209) 471-0285.

Pat Holkesvig, CEO
Homes-In-NorCal.com
(209) 471-0285

Brookside Real Estate Market Report – July 2013

Summary:

  • At the end of the month there were 50 homes for sale in Brookside. The net inventory available for sale was the equivalent of 3 months’ sales.
  • The ending inventory is significant in relationship to average sales of 14 homes per month during the 12 month period.
  • Normal pricing rules related to supply and demand do not work in this government and lender controlled market. Due to the scarcity of inventory, prices have risen steadily, and more traditional home sellers have re-entered the market.
  • Lenders continue to pursue alternatives to foreclosure; some lenders who foreclose on properties are slow to put them on the market.
  • There were 172 units sold in this 12 month period compared to 146 units in the prior year.

What these Numbers Mean to You:

  • Homes in the lower and mid-range sell quickly. Depending on your situation you may want to list high and push the market.
  • The new prison hospital opened in early July. It will employ 2,500 – 3,000 people. A large number of those employees are relocating to the area increasing demand for homes.
  • Interest rates are increasing and motivating many buyers that have been sitting on the fence to make a move increasing demand.
  • The reduction in distressed properties has resulted in reduced inventory levels, and has bolstered prices.
  • The average sales price is now $369,000 and the average sales price is $173 per square foot.
  • The average sales price at January 2013 was $313,000, we think this increase primarily reflects an increase in buyer demand, a reduction in distressed inventory and higher priced traditional home sellers re-entering the market.
  • 172 homes were sold in Brookside during the 12 month period (146 in the comparable period last year). Based on current inventory and sales levels it could take 4 months to sell a new listing here. If you are condidering selling your home – SELL IT NOW!!!

Does it really make a difference what company or agent you choose to sell your home? YES! Choose Homes-In-NorCal.com, the top real estate company in the Central Valley.

What to do now:

If you are thinking about selling your home, call your neighborhood experts at Homes-In-Brookside.com. We understand the market and have the knowledge and experience to guide you through the complexities of today’s real estate transactions.

We have closed more short-sales transactions than any other company in San Joaquin County. Our close rate is in excess of 90%. If you would like to discuss this process as an option for yourself or for someone you know please call us today at (209) 471-0285.

Pat Holkesvig, CEO
Homes-In-NorCal.com
(209) 471-0285