Dave Thurman's Real Estate Blog

Number of Homes for Sale vs. Sold vs. Pending

June 2009 there were 1066 homes for sale in Stockton, California in comparison to June 2010 where there was an increase to 1088 homes for sale. The number of homes sold in June 2009 was 612 and in June 2010 the number of homes sold decreased to 456. In June 2009 there were 671 pending sales which decreased to 633 in June 2010.

More graphs and charts from our MLS and TrendVision Reports

Number of Homes for Sale vs. Sold vs. Pending

May 2009 there were 1193 homes for sale in Stockton, California in comparison to May 2010 where there was a decrease to 980 homes for sale. The number of homes sold in May 2009 was 531 and in May 2010 the number of homes sold decreased to 378. In May 2009 there were 655 pending sales which decreased to 594 in May 2010.

More graphs and charts from our MLS and TrendVision Reports

Number of Homes for Sale vs. Sold vs. Pending

April 2009 there were 1370 homes for sale in Stockton, California in comparison to April 2010 where there was a decrease to 884 homes for sale. The number of homes sold in April 2009 was 643 and in April 2010 the number of homes sold decreased to 421. In April 2009 there were 726 pending sales which increased to 783 in April 2010.

More graphs and charts from our MLS and TrendVision Reports

Number of Homes for Sale vs. Sold vs. Pending

February 2009 there were 1978 homes for sale in Stockton, California in comparison to February 2010 where there was a decrease to 847 homes for sale. The number of homes sold in February 2009 was 504 and in February 2010 the number of homes sold decreased to 324. In February 2009 there were 623 pending sales which increased to 661 in February 2010.

More graphs and charts from our MLS and TrendVision Reports

More news for the housing market…I found this article today on Recordnet.com 

WASHINGTON (AP) — Sales of new homes plunged to a record low in January, underscoring the formidable challenges facing the housing industry as it tries to recover from the worst slump in decades.

The Commerce Department reported Wednesday that new home sales dropped 11.2 percent last month to a seasonally adjusted annual sales pace of 309,000 units, the lowest level on records going back nearly a half century. The big drop was a surprise to economists who had expected sales would rise about 5 percent over December’s pace. Read more if you like bad news…

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• New home sales hit record low in January
• New Home Sales Unexpectedly Plummet to Record Low
• Sales of New Homes Fell 7.6% in December
• New Home Sales Surprise Economists With Drop To Record Low In January
• Census: New home sales hit record low, erasing 2009 gains
• Bottomless New Home Sales
• New-Home Sales at a Low in U.S.

County/City/Area            Jul-09              Jul-08              Y-T-Y % Change

San Joaquin County      $165,000         $220,500            -25.2%

Lodi                                    $180,000         $235,500           -23.6%

Manteca                             $193,000         $255,000          -24.3%

Ripon                                  $289,000         $328,500          -12.0%

Stockton                             $120,000         $160,000          -25.0%

Tracy                                   $239,500         $300,000          -20.2%

The above median home prices were generated from DataQuick Information Systems. For more real estate news and information check out the California Association of Realtors website at http://www.car.org

San Joaquin market appears to be recovering, experts say.

The San Joaquin County real estate market appears to be on the rebound, industry professionals said after a July sales report posted a significant gain in the median price…Read more from Recordnet.com Real Estate

Almost every home I have listed in the last six months or so was priced properly according to the most recent real estate data (comps). But also, almost every home received one or more offers at and sometimes above the asking price! What does all this mean? Am I working harder and better than all the other Realtors? Is my marketing that much more superior than the other real estate companies? I would like to say yes, but most likely all of us in the business are having the same results. Properties are selling quickly, if priced correctly to the market place and there are plenty of  buyers who are ready, willing and able to buy.

Stockton CA Residential real estate inventory is low and we have lots of buyers who want to buy now!

The median price paid for a Bay Area home jumped in May as more expensive homes started to sell again. The overall number of homes sold increased for the ninth month in a row… full story

In my opinion… the worm has turned! What do you think?

Realty World – Dave Thurman

CAR

With the recession, unemployment, foreclosures, and all the budget problems; sometimes it is very difficult to remain positive about the future.

But, here is some good news it you are interested in the real estate market!

The following information was sent to members of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).

Housing picture brightens in California

With the state’s median price rising for the second consecutive month in April, and sales of existing, single-family homes remaining above the 500,000 level for the eighth month in a row, California is being closely watched as a barometer of the economy.  Some economists believe these two factors indicate the state’s median price could be at or near the bottom.

MAKING SENSE OF THE STORY FOR CONSUMERS

·      Sales of existing, single-family homes increased 49.2 percent in April in California compared with the same period a year ago, according to the CALIFORNIA ASSOCIATION OF REALTORS®’ (C.A.R.) April sales and price report.

·      As the level of unsold inventory declines, the state’s median price will likely stabilize.  Inventory levels for homes in the under $500,000 segment shrank to nearly three months in April, compared with almost 10 months a year ago, while unsold inventory in the more than $1 million segment rose to approximately 17 months, compared with roughly 10 months in April 2008. 

·      The median price of an existing, single-family detached home in California during April 2009 was $256,700, an increase of 1.4 percent compared with the prior month, but a 36.5 percent decrease from the revised $404,470 median of a year ago.  

·      Favorable home prices in many parts of the state have led to an increase in affordability for first-time buyers.  In the first quarter of 2009, affordability rose to 69 percent, enabling many to take advantage of first-time buyer programs and near record-low interest rates. 

Here is some information which was emailed to me today from Chicago Title Company.

              CALIFORNIA HOME SALE PRICE – Medians By City for October 2008

County/City/Area          # Sold          Oct 2008          Oct 2007          % Change 

Stockton                          726              $140,000            $277,000            -49.46%

Manteca                            169             $230,000            $350,000            -34.29%

Lodi                                  68               $197,000            $300,000           -34.33%

Tracy                                317             $260,000            $445,000           -41.57%

San Joaquin County           1411            $198,500            $340,000           -41.62%