I was curious what was going on in the Inland Empire this weekend as far as new listings, sales and closing. Normally this time of year (September) the market is slow due to kids going back to school. Once kids are settled and a routine is established buyers venture back out into the real estate market. October and November are usually pretty good months as the real buyers are out at this time. Most looky loos avoid the holiday season and opt for shopping instead.
Anyways this weekend unfortunately held no surprises . New listings for the weekend as of 10/5 were at 256. That’s a lot of new listings. The average home is priced at $430,504. for 2120 sq. ft with 4 bedrooms and 2.5 baths
There were 27 closings (that’s depressing) with the average being $458,006. which is about $20,000 less than the asking price. This average price is for a home that is 2197 sq. ft. with 4 bedrooms and 2.5 baths. The price is a bit encouraging.
And finally homes that went into contract were 59 (better than closings but some will fall out). The average price is $358,878 for 1981 sq. ft. with 4 bedrooms and 2.5 baths.
No surprises! The new listings are still out of touch with the market while buyers are going for the deals.
There were 27 closings (that’s depressing) with the average being $458,006. which is about $20,000 less than the asking price. This average price is for a home that is 2197 sq. ft. with 4 bedrooms and 2.5 baths. The price is a bit encouraging.
And finally homes that went into contract were 59 (better than closings but some will fall out). The average price is $358,878 for 1981 sq. ft. with 4 bedrooms and 2.5 baths.
No surprises! The new listings are still out of touch with the market while buyers are going for the deals.
Please remember these are averages only, specific homes and prices vary according to many factors including amenities, location and condition.
