| Trends at a Glance | |||
| (Single-family Homes) | |||
| Data | Jan 12 | Dec 11 | Jan 11 |
| Median Price: | $180,500 | $203,000 | $190,000 |
| Average Price: | $288,415 | $328,519 | $306,222 |
| Home Sales: | 508 | 649 | 489 |
| Sale/List Price Ratio: | 94.4% | 95.0% | 92.8% |
| Days on Market: | 97 | 99 | 102 |
As you may have noticed, the economy is picking up. (Visit your local mall and see how many people are there.) An improving economy will boost the real estate market.
So, yes, we are there, at the bottom of the market.
One sure sign the market has bottomed out is the increasing purchase of real estate by absentee buyers: investors and second-home purchasers. According to DataQuick, 33.6% of all homes bought in the Inland Empire in January were purchased by absentee buyers which is a record percentage. In contrast, since 2000, absentee buyers averaged 16.9% of total sales in Southern California. You can read the full article here.
Home sales rose 3.9% last month. That's the thirteenth month in a row home sales have been higher than the year before.
The median price for single-family, re-sale homes was down 5% from January 2011.
Condo sales jumped 27.3% year-over-year.
The median price for condos dropped 19.5% year-over-year.
for homes was flat at +13. Sales momentum for condos gained two points: +17. (See charts below)
sales momentum by using a 12-month moving average to eliminate seasonality. By comparing this year’s 12-month moving average to last year’s, we get a percentage showing market momentum.
the blue area shows momentum for home sales while the red line shows momentum for the median price.
for homes was was up one point to -9 in January. Pricing momentum for condos stayed at -7.
Remember, the real estate market is a matter of neighborhoods and houses. No two are the same. For complete information on a particular neighborhood or property, call.
The chart below shows the breakdown of home sales between normal sales, bank-owned sales and short sales, since January 2009.
The median price for the under $500,000 segment of the market fell 7.4% year-over-year. This segment constituted 86.6% of sales last month.
By contrast, the $500,000 to $1,000,000 segment of the market was 9.4% of sales. The median price was up 2.8% year-over-year.
The million dollar plus market was 3.9% of total sales last month. The median price for this segment of the market was down 11% year-over-year. See our Annual Report for year-end numbers.
The graphs below show monthly prices and sales since 2003. We have used a three month moving average to smooth out monthly fluctuations yet retain seasonal flow.
These graphs are big. Please click on the graph to expand it. Then, use your back button to return to this page.
For full details see the tables below and the Monthly Trends section which breaks out each city's statistics. That menu is at the left.
Also, check out our Annual Trends section for charts and graphs for the past eight years.
The following table provides the median price, the average price and the number of units sold for residential re-sale single family homes.
The tables on this page are xml files and use javascript for viewing. In IE9, you must check "allow blocked content" to see the following tables.
This table provides the median price, the average price and the number of units sold for residential re-sale condominiums.
If we can help you devise a strategy, call or click buyer or seller. To keep on top of the market, subscribe to this report and you will be notified by e-mail when it is updated each month.
Trend charts for individual cities can be reached by clicking on the City Trends menu to the left.
For detailed information on a specific neighborhood or country club, give Greg Bauer a call at (800) 975-7720, or fill out the appropriate form: Buyers or Sellers.
For our opinion of what your home will sell for in today's market, call or e-mail us.
