It's time for the Real Estate Market Update!
We are now into summer, which it typically our best selling time, however, we have a lower number of closed sales from June this year compared to June of last year. The difference is as much as 44% less in some cities. Yet, even though less homes were sold this June, they were sold for higher values in most cities (anywhere from 2-13% more). Glendora and Upland appear to be the only cities with a decline in value. Always remember: as I've said many times, these statistics are a snapshot in time and are not permanent. The previously mentioned data applies to numbers from June 2017 as compared to June.
That said, inventory remains lower than the industry average. IN 7 of the cities we have under 2 months of inventory, while another 9 have between 2 and 3. One city shows 3 months and only one city shows more than 3. This means we are in a Seller's market, and remain tight on available homes for purchase. Less homes are selling, and at increasing values.
So - if you're thinking of buying or selling, the current market is a perfect example of why to seek the assistance of a professional Realtor to get the most "bang for your buck." Let's talk! We can discuss your best options no matter what side of the real estate fence you're on.
