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Is The Real Estate Market Picking Up?

By
Real Estate Agent with Labrum Real Estate

 With all the media reports from the so called Experts we all have been hearing about recently on how bad the real estate market is and how it will continue to decline all I can offer is the market report for my primary area of Temecula, Murrieta and Menifee California.

 In January 2008 we had 49 properties go into pending status (accepted offers) and that was an OUCH month.

 In Febuary 2008 there were 338 properties that went into escrow.

 From March 1st 251 properties have gone into escrow and many of these properties had more than 1 offer so those buyers are still looking for another property which in turn will bring more sales this month.

 These numbers are not going to bring us out of the current real estate slump but the numbers presented here do show the market, at least in my area, is picking up contrary to the media reports of gloom and doom. Is it a good time to purchase real estate? Obviously the 638 people that purchased in this valley think so.

Comments (6)

John Walters
Frank Rubi Real Estate - Slidell, LA
Licensed in Louisiana
I think it has picked up some but we are far from the days of years past.
Mar 16, 2008 08:55 AM
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ
John, I agree with you and we do have a long ways to go before we reach a balanced market but the jump from 33 sales in Janury to 279 in February is huge.
Mar 16, 2008 09:23 AM
Mike Frazier
Carousel Realty of Dyer County - Dyersburg, TN
Northwest Tennessee Realtor

Cameron,

Sounds like your market has picked up. Tradionally the rest of the country follows what is happening in California so maybe just maybe...........

Mar 18, 2008 09:39 AM
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ
 Mike, Most of the sales are REO properties but the main thing is people are getting into the market and they are buying and I hope just like you that other parts of the country will follow.
Mar 18, 2008 11:34 AM
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Cam, I think people recognize that the Menifee area has a lot of potential.

Bill Roberts

Mar 26, 2008 03:43 AM
Cameron Wilson
Labrum Real Estate - Murrieta, CA
The Short Guy - Murrieta,Temecula,Menifee Californ
Bill, You are absolutely right.
Mar 26, 2008 06:20 AM