During the period between July 21st, 2009 and August 20th, 2009 there were 126 Single Family Residential Homes that closed escrow. This is up from the 110 homes that closed escrow during the proceeding 30-day period of 6/21/09 thru 7/20/09.
This information is to be considered useful, but please do not rely on it for any financial decisions without verifying the data for yourself. There are, of course, no guarantees to its accuracy.
This report covers both the 92582 and 92583 zip code - the only two zip codes in San Jacinto, CA which is located in the South West Riverside County area of the Inland Empire region of Southern California.
In the proceeding month, the Average Home that Sold in San Jacinto was 2,156 square feet with 3.78 bedrooms and 2.31 baths for an average Sold Price of $130,834 or 102.30% of the $128,567 average list price.
The Average Home sold in this period is slightly larger with 2,223 square feet and 3.91 bedrooms and 2.44 baths. These homes sold, on average for $135,716 or 104.07% of the higher average list price of $130,414. This is definitely an indication that the value of homes in San Jacinto has started to level out. The proceeding period reported 136 successful closed residential escrows with an average Sold Price that represented 99.72% of the List price, or $132,939.
Back to the current period...
An important indicator to gauge the value of a home is the cost per square foot. In this case, the AVERAGE Cost was $61.04. The medium value was surprisingly close at $61.09 per square foot. The medium, of course, refers to the point where half of the values are above and half are below. In this case, we has one home that sold for an exceptionally high $190.19 per square foot with the next highest at only $97.86 per sq ft. On the other end of the spectrum, homes started at only $31.37 per square foot. This was not an abnormally, as was the high number. There were 5 single-family homes that sold for less than $40 a square foot and 20 total that came in under $50 a square foot. Regardless if the prices are going up or not, the value in San Jacinto CA can not be disputed!
The Average Lot size for the Average San Jacinto, CA home that sold in this period was 7,652 sq ft. The Average home was built in 1997.
I always find the marketing data the most interesting. On Average, homes sat on the MLS for a total of 52.87 days with another 47.93 days in escrow before the title transferred to the new homebuyer. The number of photos posted to the MLS, on average was 7.04.
The reason for the nearly 53 DOM (Days on Market) had 3 homes posted to the MLS for over 300 days - with the longest at 371. There were 22 homes that closed escrow after being marketed for over 100 days. The Medium DOM was only 14.
Amazingly, there were 5 homes that were in escrow for over 100 days with the longest escrow being 153 days. Yes, this was a short sale. The Medium Days in Escrow was only 42 days.
The final stat that I'll look at for the AVERAGE SOLD HOME in San Jacinto CA from the period starting 7/21/2009 and ending 8/20/2009 is the number of pictures found in each MLS Listing. It should be noted that it is a MLS Violation NOT to have at least 1 picture posted. So why does it not surprise me that there was one listing without any photos and 26 more with only the mandatory 1 photo. What also is no surprise is that the homes that did not have sufficient photos to properly represent a property sold for 59 cents less, per square foot than the Average Home.
Do You Like this Report?
I hope that you find this snapshot interesting. This is data that is not readily available anywhere else. I spend hours each month downloading and analyzing the data based on what I feel is the most relevant. This way, when The Excellence in Real Estate Team and myself are representing a buyer we can provide factual data that applies to their personal situation and not rely on the general statistics that are published by numerous resources. If you want to watch market trends on a weekly basis - just visit the home page of my personal website - JohnOcchi.Com and subscribe to the report generated each Monday, compiled by Altos - great stuff when you get the report sent straight to your email box each week.
As is my pattern, I will generate a full series of articles based on this data where I get deep into it - looking at what is happening by both the different ways homes are financed (FHA, VA, CASH, etc) as well as the different types of transactions (Bank Owned, Short Sales, etc) that are taking place.
If you have made it this far, please leave a comment telling me what you like about this series and how you plan on using this data.
Blessings to all who read,
John Occhi, REALTOR®
www.JohnOcchi.Com
Hemet - San Jacinto Valley
951-6564-5550
If you want to Track the Market, then please read more about the preceding period at any of these links:
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | The Average Home
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | Averages by Type of Sale
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | FINANCING by TYPE of SALE
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | CASH SALES & THE MARKET
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | CONVENTIONAL LOANS in the Market
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | FHA LOANS in the MARKET
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | VA LOANS in the MARKET
REPORTS FROM 5/20/2009 - 6/20/2009
San Jacinto Market Analysis - SOLD 5/20/09 - 6/20/09
Financing - CASH
Financing - CONVENTIONAL
Financing - FHA
Financing - VA
Financing - LAND CONTRACT
FINANCING OBSERVATIONS
Market Summary - Why local is Important
Servicing THE REO Needs of Asset Managers, Servicers, Banks and Lending Institutions in the Hemet - San Jacinto Valley, Temecula, Murrieta, Winchester, Wildomar, Menifee, Sun Valley, Perris, Moreno Valley, Romoland, Homeland, Nuevo, Banning, Beaumont, Cherry Valley, Yucaipa, Redlands, Mentone, Loma Linda and throughout South West Riverside County and The Pass Areas of The Inland Empire in Southern California. If you are a buyer, investor, first time home buyer or are just interested in REO real estate, please contact us at the above phone number.
Serving California and Riverside County zip codes of 92501, 92503 , 92551, 92555 , 92562, 92563, 92504, 92505, 92557, 92553, 92506, 92507, 92590 92591, 92508, 92509, 92570, 92571, 92592, 92399 , 92584 , 92596, 92820 , 92571 , 92543, 92544, 92545, 92583, 92582, 92879, 92580 , 92530, 92532, 92881, 92882, 92567, 92518, 92883 , 92549, 92561, 92220, 92223, 92028, 92088
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