Home sellers in Stockton and Modesto California are having a great selling season according to Realtor.com. The data is also boding well for the rest of the State and Country.
Nationwide the numbers are also good with the median house selling in 68 days, but in California, specifically in Stockton, Modesto, Manteca and Sacramento they are selling much faster. In Stockton, houses spent an average of 38 days on the market in July 2016.
In Modesto the median age of the house on the market was 39 days.
What does that mean?
Keep in mind that averages take the total number of days at the high and the low (all numbers and then divide by the number of houses). That is not good news for all houses, it good news for the houses in the highest demand. Also keep in mind that the prettiest houses that are move in ready are always going to sell fast and fetch top price in any market. It’s what most buyers want and what most banks will quickly approve loans for.
According to Realtor.com’s list of hottest housing markets in the country, Stockton and Modesto are holding on to their top 20 spots. Stockton was number 5 for July, down from fourth in June. Modesto was in 12th place down from 9th place in the month prior.
That is a pretty good recovery from 2008 when Stockton and Modesto both had the some of the worst number of foreclosures in the nation that year.
Home prices are also remaining fairly level according to the data. In June according to the Multiple Listing Service numbers, the median sales price for a house in Stockton was $315,000 and $275,000 in Modesto.
California markets continue to be the hottest on the company’s website that ranks markets based on inventory (houses on the market) and home sales price.
The key for any home seller is to offer buyers what they are looking for and with limited inventories many homeowners wanting to sell are doing just that.
For other Home Sellers, the sales numbers for distressed homes continue to drop as fewer cash buyers are remaining in the market with all housing prices rising. But there is another factor as well. The cost of even distressed housing has risen to new highs and that plus the increased cost with the higher labor and material cost associated with repairs and upgrades are pricing a lot of Investors out.
Maybe they are missing the bargains of many years ago, but many of the investors that I know are taking a wait and se attitude.
My name is Peter Westbrook and I am a Real Estate Investor in Stockton Ca. We Buy Houses in Stockton, Sacramento, Manteca and Modesto and we pay cash.
If you have a house that you would like to sell but are afraid that there is no one willing to pay cash for your house in its As is Condition... call me at 209-481-7780 or visit my website at http://www.IBuyHousesStockton.com and I will make you a fair market value all cash offer. What have you got to lose?