Winchester
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
4 Reasons to Sell in Winter
With the winter chill in the air it is not uncommon for those of us in the real estate business to meet sellers who say, “I’m going to wait until spring to sell.” Spring is the busy time of year in real estate. That being said, spring is not necessarily the best time to sell a house. Here are 4 reasons why winter might just be the very best time to sell your home.
1. Serious Buyers – It gets dark out by 5 o’clock in the afternoon and it’s cold (by our standards). Buyers that are out looking at homes this time of year are serious buyers. They have narrowed down their search so that they can avoid wasting time in their very short days. Sellers that list their home now may have less showings than spring months, but every buyer through the door is potentially THE buyer for the home.
2. Competition – There is less home sale competition in the winter. Less competition means you have greater access to the pool of potential buyers. Why sell a home when everyone else is? If you are looking to gain maximum value for your home, the easiest way to do that is to sell when there is very little competition.
3. Interest Rate Certainty – If you are selling your home so that you can buy a new place right away, then moving forward now makes the most sense because you know what the rates are right now (or can find out by calling your loan consultant). Rates are volatile and there is no saying what they will look like months from now. Eliminate the uncertainty by moving now.
4. Non-Contingent Buyer – Let’s say that you are planning on buying another house. You could sell your house now and move into temporary housing until spring. This gives you huge leverage when you go to buy a house next. Because you will not have to make offers that are “subject to selling a house.” In the spring, the market gets more competitive so buyers who have to sell a house are pushed to the low end of the totem pole when there are more buyers making offers. If you don’t have a house to sell, you will have an easier time buying your next house. OR if you do want to move from one house to the next- your subject to selling offer may be more welcome by Sellers in winter.
There is no absolute perfect time to buy or sell a home. We work with customers all year long through every season. If you are considering buying or selling a home, call us. Together we can design a strategy that is best for YOU and your family alone.
We have been putting qualified Buyers and Sellers together in the Temecula Valley since 1998. Put our experience to work for you today! (951) 522-0518 or april@teamgreer.com Gary and April Greer
Be The Good, Buying or Selling the Temecula Valley
Please join our “Be The Good” campaign
by buying or selling real estate with us. You choose from the organizations listed below where 5%* of our earned commissions will be sent. It’s that simple. We are already supporting these great non-profits (and others) but together we can do more!
Rancho Damacitas (951) 302-2317 Our local foster care home(s) with children and family services with a powerful new branch called Project Independence for youth transitioning into adulthood
Michelle’s Place (951) 699-5455 Our local breast cancer resource center
Project Touch (951) 677-9661 Our local homeless and emergency shelter group
Samaritan’s Purse A global humanitarian relief organization
Community Mission of Hope (951) 444-1404 Helping families and individuals in need with food and hygiene items, as well as financial counseling. Partners with the City of Temecula and the The Temecula Food Pantry.
Gary and April Greer have been connecting qualified Buyers and Sellers in the Temecula Valley since 1998…they are just a quick call, text or email away at 951-522-0518 or april@teamgreer.com
*cannot be offered on corporate or professional referrals.
Southern California Home Sale Statistics
JUNE RE CAP of Southland Home Sales
Cash Buyer accounted for 22.3% of June 2015 home sales. That was down from June 2014 when cash buyers were at 25.9% of the market. The peak was 36.9% in February 2013. Since 1988 the monthly average for cash buyers is about 17% of all sales.
Absentee buyers (investors and second home purchasers) bought 21.1% of Southland homes sold in June 2015. The peak was 32.4% in January 2013. The monthly average for absentee buyers since 2000 is about 19.0%.
The median price paid for all Southern California homes sold in June 2015 was $442,000. That is 12.5% below the peak median price of $505,000 reached in March, April, May and June of 2007.
Foreclosure re-sales (properties foreclosed on in the prior 12 months) represented only 3.8% of the Southland re-sale market in June 2015. That was down from 4.6% in June 2014. Foreclosure resales peaked at 56.7% in February 2009.
Short sales made up an estimated 3.1% of Southland re-sales in June 2015. That was down from 4.6% a year earlier.
Home Sales of $500,000 or more accounted for 41.7% of all Southland home sales in June 2015, which is up from 37.9% for June of last year and is the highest level for any month since September 2007 when it was at 44.4%.
Taken from CoreLogic.com July 19, 2015
Real Estate in your area is constantly changing…if you live or want to live in the Temecula Valley we are just a phone call away at 951-522-0518 or april@teamgreer.com
