See the Momentum in Santa Maria Valley Real Estate Sales

Normal
0

false
false
false

EN-US
X-NONE
X-NONE

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-qformat:yes;
mso-style-parent:””;
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin-top:0in;
mso-para-margin-right:0in;
mso-para-margin-bottom:10.0pt;
mso-para-margin-left:0in;
line-height:115%;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:”Calibri”,”sans-serif”;
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-fareast-font-family:”Times New Roman”;
mso-fareast-theme-font:minor-fareast;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;}

In order to understand the direction a real estate market is going, one must study the comparison of year-to-year monthly sales.  Did the number of homes sold this month beat the same month last year?  The answer is an indicator of momentum, and will give insight to the likely direction of pricing.

Pricing trends generally follow sales trends.  If homes sales go up, so will prices.  Declining sales = declining prices.  Well, you may see an exception to that generality, because we have a big lack of inventory, which is causing prices to rise faster than they would if we had more homes to sell.  Eventually that will even out.

Here are the sold stats for August 2013 vs. 2012:

August 2012 - 2013 - For Sale vs Sold

August 2012 - 2013 For Sale vs Sold table

 

 

 

And here are the averages for pricing, same time frame:

August 2012 - 2013 - Average Price

August 2012 - 2013 - Average Price table

Results in a nutshell:

Sales are down nearly 13%, August 2012 – 2013.

Prices for active listings are up 12%, prices for sold listings are up a whopping 24%.

The number of sales are down due to lack of inventory, and I’d say prices are up for the same reason.

Conclusion:

Time to buy before it gets worse!  OR, time to sell while inventory is low and competition is too!

To buy or sell real estate in the Santa Maria Valley (and surrounding areas), please give me a call at (805)937-5777, send an email or complete the short form below and I’ll get back to you right away!

 

Advertisements

The URI to TrackBack this entry is: https://dannbartley.wordpress.com/2013/09/15/see-the-momentum-in-santa-maria-valley-real-estate-sales/trackback/

RSS feed for comments on this post.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: