On June 20, 2009 a report of all Single Family Residential real estate listings reported as SOLD in the last month (from 5/20/09 to 6/20/09) was run on the MLS, using the data as provided directly from SoCalMLS.
This information is to be considered useful, but please do not rely on it for any financial decisions without verifying the data for yourself. There are, of course, no guarantees to its accuracy.
There were a total of 136 individual San Jacinto residential real estate properties considered, after eliminating 3 duplicate entries and verifying what appeared to be misinformation or lack of available information. This data does not include multi-family, mobile homes, land, commercial, leases or any other type of homes - this is strictly residential real estate in both zip codes of San Jacinto, 92582 & 92583.
The AVERAGE SOLD HOME had 2,109 square feet of living space which included 3.7 BEDROOMS and 2.45 BATHROOMS and sat on a lot with an average of 9,081 square feet. This AVERAGE SAN JACINTO HOME was built in 1998 at an average cost of $64.88 per sq ft. The oldest of these properties for sale was a classic 525 sq ft 1 Bedroom 1 Bath cottage built in 1920; which sold for $28,100 ($58.52 per Square Foot). The newest was also the most expensive - a semi-custom 2804 sq ft home on just over a half acre lot with 3 bedrooms and 2 baths. This gem sold for $414,000 and was only one of two houses over $100 a sq ft for homes that sold in San Jacinto in the last month ($147.65). The other was a bank owned REO home for sale in San Jacinto, CA.
Marketing time for these SOLD PROPERTIES is somewhat confusing to me - as what I see selling is moving very quickly - yet we still have an average days on market of 80.51. Granted, this takes into account numerous Short Sale transactions that closed successfully - most with very long marketing times; but even the REO's have some properties that had days in the hundreds. This I cannot explain, but data is data. Maybe it has something to do with the fact that the average number of pictures for all 136 sold San Jacinto listings only had an average of 6.91 pictures per effort to market these homes for sale in San Jacinto, CA. Once these homes entered escrow, they took on average 47.1 days to close and transfer possession of title to the new home owner.
Speaking of Short Sales, 7 actually closed escrow, representing 5.15% of the Market. There were also 6 Standard Sales (not a Short Sale or Bank owned) that accounted for 4.41% of the transactions. There was also one each Probate and RELO transaction, each representing 0.74% of the market. The remaining balance of 121 homes that Sold in San Jacinto during this 30 day period were all bank owned REO homes for sale and commanded 88.97% of all the homes that Sold in San Jacinto, CA.
What I believe to be the strongest market indicator that there is a change taking place before our very eyes is when we look at the list price and compare it to the sold price. In the last few months it was common for most homes to sell below the list price - and typically with seller incentives (which, at best, are near impossible to accurately track) such as closing costs. During this period the AVERAGE HOME FOR SALE IN SAN JACIONTO was listed for $133,310 and sold for 99.72% of the list price, or $132,939 - a difference of only $371 - less than the cost of a home warranty!
BE SURE TO READ THE OTHER SEGMENTS OF THIS SPECIAL MARKET REPORT ON SOLD LISTINGS IN SAN JACINTO, CA
Blessings to all who read,
John Occhi, REALTOR®
Hemet - San Jacinto Valley
Servicing THE REO Needs of Asset Managers, Servicers, Banks and Lending Institutions in the Hemet - San Jacinto Valley, Temecula, Murrieta, Winchester, Wildomar, Menifee, Sun Valley, Perris, Moreno Valley, Romoland, Homeland, Nuevo, Banning, Beaumont, Cherry Valley, Yucaipa, Redlands, Mentone, Loma Linda and throughout South West Riverside County and The Pass Areas of The Inland Empire in Southern California. If you are a buyer, investor, first time home buyer or are just interested in REO real estate, please contact us at the above phone number.
Serving California and Riverside County zip codes of 92501, 92503 , 92551, 92555 , 92562, 92563, 92504, 92505, 92557, 92553, 92506, 92507, 92590 92591, 92508, 92509, 92570, 92571, 92592, 92399 , 92584 , 92596, 92820 , 92571 , 92543, 92544, 92545, 92583, 92582, 92879, 92580 , 92530, 92532, 92881, 92882, 92567, 92518, 92883 , 92549, 92561, 92220, 92223, 92028, 92088