Riverside County
So Cal Rent Hikes 2019 Forecast
Southern California Sales
The median price paid for all Southern California homes sold in December 2017 was $507,000, a new all-time high that surpasses the previous peak of $505,000.
Absentee buyers (investors and second home purchasers) bought 22.9% of Southland homes sold in December 2017. The peak was 32.2% in February 2013. The monthly average for absentee buyers since 2000 is about 18.0%.
The number of homes that sold for $500,000 or more in December 2017 accounted for 51.3% of all sales. That is up from 45.4% in December 2016.
Foreclosure re-sales (properties foreclosed on in the prior 12 months) represented 1.4% of the Southland re-sale market in December 2017. That was down from 2.9% in December 2016. Foreclosure resales peaked at 56.7% in February 2009.
Federal Housing Administration (FHA) Loans made up 16.1% of all home purchase loans in Southern California in December 2017. Riverside and San Bernardino counties experienced the region’s highest FHA share in December at 25.1% and 26.9% respectively.
Just Released from DQNews January 30th, 2018
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Southern California Home Sales
Southern California July 2016 Home Sales Volume Dips, however-
Median Sale Price Steady Month to Month and Up Year Over Year (*Median Price 7-15/7-16)
The typical mortgage payment that Southern California home buyers committed to in July 2016 was $1,662, down slightly from $1,683 in July 2015. Adjusted for inflation, the July 2016 payment was 43.6% below the $2,946 in July of 2007.
Cash Buyers accounted for 19.6% of July 2016 home sales. That is the lowest level for any month since October 2008. Cash sales peaked in February 2013 at 37.5% of the market. The monthly average for cash buyers since 1988 is about 16%.
Absentee buyers (investors and second home purchasers) bought 19.9% of South land homes sold in July 2016. The peak was 32.2% in February 2013. The monthly average for absentee buyers since 1988 is about 18.0%.
The median price paid for all Southern California homes sold in July 2016 was $465,000. That was the highest for any month since August 2007 when it was $500,000.
Home Sales of $500,000 or more accounted for 45% of all sales in July 2016, up from 40.6 in July 2015. The July share of homes selling for $500,000 or more was the highest for any month since the credit crunch hit in August 2007 when the $500,000-plus share was 49.4%.
*Median Price=half more/half less. * All information deemed reliable but not guaranteed. For tax, ownership or investment advice we suggest you contact an attorney or certified public accountant. Taken from CoreLogic.com
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California Median Home Price
April Home Sales and Price Report
Statewide median home price climbs,
breaking $500,000 for first time in nine years!
April’s statewide median home price was $509,100, up 5.3% from March and 5.1% from April 2015.
C.A.R.’s Unsold Inventory Index, which indicates the number of months needed to sell the supply of houses currently on the market at the current sales rate, slipped to 3.5 months. A 6-to-7 month supply is considered typical in a normal market.
According to C.A.R.’s sales to list price ratio, tight inventories appear to be driving final sold prices closer to listing prices, with sales prices rising to 99.3% of listing prices statewide.
The median number of days it took to sell a single-family home fell in April to 27.7 days, compared to 29.9 days in March.
Taken from CAR.org 5-18-16 All information deemed reliable but not guaranteed. For tax, investment or ownership advice we suggest you contact an attorney or certified public accountant.
Median = half more/half less
Find out what this means to the value of your home in Southwest Riverside County. Temecula, Murrieta, Menifee, Hemet, Winchester, Wildomar, Lake Elsinore & French Valley. We are available by phone, text and email (951) 522-0518, april@teamgreer.com
