October 7, 2020
By Saeed Ghaffari
The new listings surged back up from last week all across so cal. San Bernardino had the highest increase, 24.33%, LA came 2nd with 11.16%, Riverside 3rd, 7.62%, OC 4th with 6.45% and San Diego had the lowest, nonetheless, increase in new listings, 5.32%.
Number of closings in LA, San Bernardino and San Diego counties dropped by 3.17%, 6.87% and 15.36% respectively and they improved in OC and Riverside county by3.32% and 3.92%.
We track the average number of days for closed properties on MLS week by week. The number came down in LA, OC and Riverside county and it went up for San Bernardino and San Diego counties. The variation of less than 15% is not a significant change, but anything above 15% should be watched closely. The average days on the market for San Bernardino closings went up by from 32 to 45 days, 40.63% increase.
This week’s overall picture of the So Cal RE Market looks good and better than last week’s. Neighborhoods in most cities in every county are showing strong to moderate seller markets. It’s a bit strange to see such a strong seller market as one would think buyers would be waiting for COVID driven distressed properties to hit the market sometime soon.
Need a realtor in your area? Click on More & More Realtors
Call Us Today
714 469 5529
The new listings surged back up from last week all across So Cal, with increases ranging from 4.94% in San Diego to as high as 7.7% in Riverside. We also added Ventura County to our report as it is one of the smallest counties in the So Cal region. The closings...
One way to gauge the state and the direction of the economy is by watching the mortgage lenders’ lending attitude. When the economy takes a hit, lenders pull back, tighten their lending guidelines and take a more conservative approach to lending. When it is going...
It seems as if the homeowner associations are a trend across the country. According to the U.S. census bureau, 59% of the newly constructed homes in 2014 were built with an association in place and the number is growing. Homeowner Associations offer many benefits to...