Pending home sales in California saw the first double-digit annual increase in three years in February and also the largest gains since the housing crisis. According to a report from the California Association of Realtors, pending home sales increased by 15.6 percent year over year in February, the most significant annual increase since April of 2009. The Bay Area also saw double-digit percentage increases which suggests that the pace of sales will pick up across the state in the coming months. This may finally give buyers a more level playing field. Martinez real estate fared well in the month of March with no major decreases throughout the … (0 comments)
The market has been pretty quiet among many Bay Area cities over the last few months of 2015, including Martinez. Home sales declined in all nine Bay Area counties in the first month of 2015 which was the the result of limited affordability, according to a report released by the California Association of Realtors. Additionally the sales drop-off in the Bay Area was attributed to intense demand and inventory shortages, which have driven up prices. The report also stated that the Bay Area was the only region in the state where the average home seller could expect to take in about 100 percent … (0 comments)
The number of Bay Area homes on the market tightened as 2014 ended and continue to in the first month of 2015. According to the California Association of Realtors December home sales and price report, the months’ supply of inventory for single-family homes across the Bay Area dropped to 1.7 in December, down from 2.3 in November. With that, the Bay Area real estate market remains heavily tilted in favor of sellers, as it did one year ago. Along with inventory levels, home prices also dipped across the Bay Area. Even with the month-over-month slips, Bay Area counties remain the state’s most expensive … (0 comments)
martinez housing market: Martinez Real Estate Update - January
- 01/07/15 07:26 AM
Happy 2015 to all! What a year 2014 was for the real estate market. Overall, the market in Martinez was steady but like all of the Bay Area, it was nothing to write home about. Employment statistics released earlier in the week by the U.S. Bureau of Labor Statistics (BLS) fall right in line with analysts’ recent predictions that the housing market will make a comeback in 2015. Reports from economists at CoreLogic and Wells Fargo released in December indicated they believe housing will rebound in 2015 after a disappointing 2014, and they cited improvements in the U.S. labor market as a … (0 comments)
martinez housing market: Martinez Real Estate Update - December
- 12/04/14 05:32 AM
2014 has been a great year for the Martinez real estate market. And with recent 2015 projections coming out for the U.S. real estate market, 2015 will likely be even better. Freddie Mac’s economic outlook for 2015 calls for 3 percent growth in the U.S. economy, which means good news for Bay Area housing. Home value appreciation is expected to drop slightly which is a positive for buyers and sellers. Home values have appreciated so much throughout the last year so many homeowners are all in all in a good place. This also means buyers will be more active. As far as interest … (0 comments)
martinez housing market: Martinez Real Estate Update - November
- 11/06/14 02:45 AM
With only two more months left of 2014, most are wondering how 2015 projections are looking for sellers and buyers. A recent forecast by the California Association of Realtors gives much hope to homebuyers for the coming year, with a prediction of a growing supply of inventory, leveling home prices and less competition with investors. There is also a prediction that mortgage interest rates will remain at historically low levels throughout 2015. This is an incredible outlook for the coming year. And with that being said, 2014 has been a very solid year in the real estate market. The Martinez … (0 comments)
martinez housing market: Martinez Real Estate Update - October
- 10/13/14 03:09 PM
The U.S. real estate market is nearly stabilized and Martinez, like many local markets, is recovering quicker than the nation. In September 2014 the median sale price had a year over year increase of 32%, from $417,300 to $550,000. Additionally, the number of new properties that came on the market in September is up by 31% year over year from 39 t0 51. The correlation between these two increases speaks for itself. Home values are increasing so sellers are eager to put their homes on the market. The number of properties sold is only down 1% year over year, from … (1 comments)
martinez housing market: Martinez Real Estate Update - September
- 09/08/14 09:04 AM
The Martinez real estate market, like many Bay Area cities is slow during the summer months and tends to pick up after school has started and vacations have passed during Fall. This summer has been more quiet than in recent years likely due to intense demand and constrained inventory. This, coupled with increased prices has some homebuyers sitting out the action as they wait for the supply-and-demand ratio to stabilize. The median sale price has increased by 9% year over year, from $437,500 to $475,000. Additionally, the number of for sale properties by month is down 22%. Another number that supports … (0 comments)
The Martinez real estate market, like many Bay Area cities has remained very consistent and strong since the beginning of the year. The median sale price is up 23% year over year, from $422,000 in June 2013 compared to $519,700 in June 2014. The median sale price dropped slightly from May to June but not enough to have any effect on the success of he real estate market. And similar to other nearby cities, the number of properties sold is down a whopping 50% year over year, from 43 in June 2013 to 22 in June 2014. This is … (0 comments)
martinez housing market: Martinez Real Estate Update - March
- 03/12/14 11:23 AM
Within the last year, the Martinez median sale price has increased 65% from $305,000 in February 2013 to $504,500 in February 2014. This is largely due to the low inventory. In addition the number of sold properties increased 42% from January to February and the amount of time a listing spent on the market decreased drastically from roughly 59 to 26, nearly 56%. Demand is still very high for homes in Martinez. And unlike other Bay Area cities, the amount of inventory in Martinez hasn’t increased, its actually decreased 13% from 46 new listings in January to 40 new listings in … (0 comments)
martinez housing market: Martinez Real Estate Update - February
- 02/09/14 02:52 PM
Martinez is starting 2014 off on a great note…the real estate market is on fire! The days of $300,00 homes is no longer. The median sale for January 2014 was $546,000 compared to $349,000 in January of 2013, that’s an increase of 56%….wow. And like many other Bay Area cities the number of new properties by month has decreased 7% from January 2013 to January 2014. This is what in part is driving up the median sale price. Either way, Martinez is making its way in the real estate market and is proving to be a great city. It is rich … (0 comments)
martinez housing market: Martinez Year End Real Estate Update
- 01/22/14 10:16 AM
2013 was a great year for the real estate market in Martinez. When comparing December 2012 to December 2013 the median sale price increased a whopping 18%, from $355,000 to $417,500. You can’t ask for more than that as a home seller. For homebuyers it was a little tougher, considering the high bids that were coming in well over asking on most properties. It’s all about supply and demand, as one can tell by the sale prices compared to the units that were sold. In December 2012 there were 41 units sold, compared to just 26 in December 2013, a decrease … (0 comments)
;)
;)
