Stanislaus County Short Sales - What's Happening Now!

Stanislaus County Short Sales - What's Happening Now!

I don't want to bore everyone with statistics so I try to dole them out in little bites.  They even bore me sometimes too.  I don't do a lot of posts with statistics but I got to thinking today about what is going on here in Stanislaus County. 

Just about a year ago most homes were selling pretty fast and some were even receiving multiple offers.  The first time home buyers tax credit of $8000 had something to do with that I'm sure. Now here come the statistics.

January and February of 2010 there were 1031 homes sold in Stanislaus County and the average time on the market was 56 days.

January and February of 2011 there were 1027 homes sold in Stanislaus County and the average time on the market was 80 days.

The number of homes sold in 2010 is nearly identical to the number of homes sold in 2011.  This works out to a little more than 17 homes per day selling in Stanislaus County.   What is different is the average time on the market.  It went from 56 days to 80 days. 

As of today March 15,2011 there are currently 2259 homes listed for sale in Stanislaus County.  The average days on the market for these homes is now 118 days.  At an average of 17 homes sold per day this is a 130 day supply of homes!

What does this mean to you as a seller?  You need to price your home aggressively.  You need to make the best first impression that you can possibly make.  Once that buyer steps into your home it has to look nice.   And above all you will have to be patient.

What does this mean to you as a buyer?  You will have lots to chose from.  You most likely will not be dealing with multiple offers on properties.  And most of all with this Distressed Property driven market (Short Sales and Bank Owned Homes) you will have to be patient.

So if you are a buyer or a seller in Stanislaus County you need to find an agent that understands TODAY'S market.  You also need an agent that will keep up to date on the market because things are changing rapidly, much more so than they ever have.  If you need help buying or selling a home in Stanislaus County Call me, Jim Patton the Stanislaus County Short Sale Specialist.