Why It is STILL a Sellers Market in San Dimas, CA
Okay, so the last statistics have proven to you that it is definitely a SELLERS MARKET. But the trend is continuing and even growing here in San Dimas, CA.
Last week, there were a total of 5 new listings. Last time there were 6 new listings which is good for sellers. Less inventory means higher prices. When you compare this week's 5 to the 6 sold homes you can see that there aren't going to be many homes on the market for very long.
What does this mean to you if you want to sell? This means that your home can be sold in a short period of time and many times will sell for more than the asking price. Naturally, this doesn't mean that you can price your home high and expect the same results. But that's another whole blog. This whole environment can cause bidding wars which can make the price of your home increase.
There were 4 price changes, usually this means lowering of the asking price and 3 more have gone into back-up status. Back-up status means that the home has an accepted offer but for some reason they are preparing in case the buyer backs out, or for some other reason like a short sale waiting on the bank's response.
When you figure in the 2 that went pending (into escrow), that's a whole lot more properties than came on the market this week.
So, in recap, 2 pending, 6 sold, and 3 into back-up for a total of 11 homes off the market. When you compare that to the measly 5 that came into the market, you can easily see why this is a great time to get top dollar for your home.
If you are thinking of selling, or buying for that matter, please always contact a local expert for the area so they know how to advise you. All real estate is local down to the neighborhood still and so you need someone who knows what's what. I stay on top of the cities I serve (such as San Dimas, CA) as you can see and will be more than happy to help you with your real estate needs whether that be to answer any question you may have or give you a free home valuation. And ALWAYS go with a Realtor you can trust!
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