HIGHS AND LOWS - Glendora, CA - January 18, 2012
Okay, so here is today's report for the GLENDORA, CA Real Estate Market.
SINGLE FAMILY RESIDENCE
Lowest Priced Home $ 210,000
Highest Priced Home $ 4,750,000
Average $ 399,000
Active Listings 165
Sold This Week 7
New Listings This Week 8
WHAT THIS MEANS TO YOU: You now have more information about what's happening with the GLENDORA REAL ESTATE MARKET so you can make an informed decision on whether this city is right for you and if the prices fit into your budget. The average price in GLENDORA this week is $399,000 which is lower than before. Prices have fallen just a little bit, but it looks like they are starting to stabilize in this area.
The other thing you can learn from this information is the saturation rate of the existing active real estate listings. The saturation rate is determined by the amount of sales in a week and the number of listings available for sale. So in this case, there are 165 homes being actively marketed by Realtors for sale. If you divide those 165 by the number of homes sold this week, in this case 7, you have your saturation rate. This means that if you placed your home on the market to sell you can expect it to take a little over 23 weeks to complete the sale of your home. That is if no other listings come into the real estate marketplace during that time. And we all know how likely that is, now don't we... In fact this past week there were 8 new listings.
HOW THIS AFFECTS YOU: If your price is competitive and your home is in relatively decent shape you can have it sold in as little as one day or as much or more than the 23 weeks. It also depends on the agent you are using. The more aggressive your agent's marketing plan is for your home, the more exposure your home gets and you can see that would have a great impact. It truly helps to have an agent that has an existing web presence since most people start their home search online. On the other hand, if you use someone who merely puts your home on the MLS and does nothing more, it will most likely take a little more time to sell.
If you are a buyer, this means you have a large selection to choose from and you have a better chance right now of getting an offer accepted. Not to mention that the average home price has dropped in the last month making you as they buyer able to afford a better home.
CONDOS AND TOWNHOMES
Lowest $ 199,900
Highest $ 400,000
Average $ 320,000
Active Listings 22
Condos Sold This Week 0
New Listings This Week 2
So if the same holds true for CONDOS, then it would take approximately 11 weeks to sell your condo or townhome. And a buyer has 22 to choose from right now. It seems that during these trying economic times, people are really not doing much in the way of buying or selling condos however the number of listings has picked up a bit.
Since I am local to the area, I work hard to be a local expert in GLENDORA Real Estate. The prices, the inventory and the trends so I can be a better agent for you. However, it is not only real estate information that makes one a local expert. There must also be knowledge of local events, schools and neighborhoods. And since I grew up in GLENDORA and still live less than ten minutes away, I'm pretty Glendora-Savvy.
So if you are interested in buying or selling or simply have questions about real estate, please feel free to contact me. I will be more than happy to assist you. Call me for your free home market analysis!
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