Dear Friends please take some time to study the facts of the market as we are experiencing here in the High Desert.
Here are some of the highlights from that report that I think are important to first time buyers and investors.
Like in the game of Tennis a racket has a sweet spot and so does this market. Where is the sweet spot in the high desert?
30% of the deals in the High Desert are in the $100,000 up to $150,000
39% of the deals in the High Desert are in the $150,000 up to $200,000.
18% of the Deals in the High Desert are in the $200,000 up to $250,000
Our current weeks supply of inventory when compared to the demand is 26 Weeks. We have 82 more units on the market BUT this should be considered somewhat tight.
Average days on Market is 53
Median asking price is in $135K Median price in Escrow is 120K(88%) Median close price 122K(90%)
So 69% of the Deals are in the $100,000 to $200,000 sweet spot.
Total Sold 471.
In this last month 307 Bank owned sold 65% of the market.
In this Last month 52 Short Sales Sold Short sales are about 11% of the current market
In this last month 112 Standard Sales sold. Standard Sales are about 23 % of the current market
How does this compare to one year ago???? In a nutshell 696 sold-581 bank sales, 21 short sales 94 standard sales.
And what is the interesting Fact???
In August 09 50% sold in August 2010 65% Sold.
Thanks for reading
Val Rensink
with Exit Premier Realty
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