This report is part of the series of articles published as the San Jacinto CA Real Estate Market Report for Sold properties between June 21st, 2009 and July 20th, 2009.
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.
(As an afterthought, I added my own numbers to this San Jacinto Market Report for the same period with the 4 homes I sold in the same San Jacinto Market, during this same period. My personal differences will be published in italics to help separate it from the main focus of this report. All 4 of my listings were Bank Owned REO Listings.)
While the AVERAGE SOLD HOME is 2,156 sq ft the Average REO home that sold was 2,180 sq ft. The Average Sold Short Sale was larger at 2,376 sq ft while the Standard Sale Average for square footage was reduced to 1,724 square feet and the Probates were only 1,106 square feet in size.
My Average Sold Home was 2,448 square feet with 4.75 Bedrooms and 2.75 baths. The homes I closed Escrow on during this period were larger than the market average.
Short Sales were also had the highest room count of 3.93 bedrooms and 2.36 baths compared to the 3.75 overall AVERAGE BEDROOM COUNT and 2.3 AVERAGE BATH COUNT. The Bank Owned homes in San Jacinto, CA were right behind the Short Sales and still above the average with 3.84 bedrooms and the 2.36 baths. The Standard Sales and Probated each averaged 3 bedrooms per closed real estate transaction, while the Standard Sales had 1.71 baths compared to the single bath found in each of the Probates.
While the Average home that Sold in San Jacinto was built in 1979 both the REO's and SHORT SALES had an AVERAGE YEAR BUILT of 1999. Standard Sales were built in 1975, on Average and the Probates in 1961.
My Average Sold Home was Built in 2006 and had a 8,821 square foot lot. Again, my Sold Homes were newer than the Average Sold Home and were built on Larger Lots.
The AVERAGE LOT SIZE was favored by the Standard Sales with approximately quarter acre lots of 10,516 square feet compared to the Average of 7,899 sq feet. Short Sales also exceeded the Average with 8,051 square feet while the REO's came in slightly below with an average lot size of 7,760 square feet. The Probates again have the smallest numbers with lots that average only 7,623 square feet.
Each San Jacinto CA SOLD PROPERTY represented in this Market Report averaged 64.21 Days on the Market (DOM) before it went into Escrow where it took on Average another 48.13 Days before it actually Closed Escrow. Listing Agents used an Average of 6.54 PICTURES to market their listings. The REO's had the Shortest Average DOM with 55.33 followed by the Standard Sales at 76.29, Probates at an even 100 and sitting on the market the longest were the Short Sales. The Standard Sales made it through Escrow much quicker than any of the others with only an average of 31.71 Days In Escrow. The REO's came in just over the Average48.13 at 48.82. Short Sales spent on average 53.43 Days in Escrow while the Probates took 68 Days, on Average. Interestingly, the Real Estate Agents listing the Probates did the best job marketing their listings, averaging 13 pictures per listing while the REO Agents did the worst job with only 6.33 images. Short Sales were nearly a picture more, on average with 7.29 images in the MLS for each Short Sale Listing and the Agents representing the Standard Sales each had 8.14 pictures, on average, to market their listings.
I like to think that I am a better marketer than the overall competition in the field. My listings only averaged 33 DOM - 51.5% faster than the average and my Escrows closed 12.5% faster than the average 48 days with my escrows only lasting 42 days, on Average. Maybe, it has something to do with the fact that everyone of my SOLD Listings had 20 Pictures in the MLS compared to the 6.33 other agents averaged.
Finally, perhaps the most important numbers to look at, now that we know what the Average Home looks like in San Jacinto is how much did it cost? THE AVERAGE LIST PRICE (LP) of all the homes that Sold in San Jacinto from 6/21/2009 through 7/20/2009 was $128,048 with the AVERAGE SOLD PRICE (SP) coming in at $130,352 or a LIST PRICE to SOLD PRICE RATIO (LP/SP) of 101.46%. The Bank Owned REO's had the highest LP/SP with 102.96% and the Short Sales were surprisingly very close at 101.46% Standard Sales followed at 96.51% and the Probates went for only 93.46% of their LP. AVERAGE SOLD PRICE in the Market was $130,353 with Short Sales registering the highest numbers at $143,471 followed by the Standard Sales at 134,143. The Bank Owned Homes Sold on Average for $130,416 and the probates were only $49,000 each, on average.
Look for additional reports that will break down the data by both sales type and financing.
BE SURE TO READ THE OTHER SEGMENTS OF THIS SPECIAL MARKET REPORT ON SOLD LISTINGS IN SAN JACINTO, CA
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | The Average Home
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | Averages by Type of Sale
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | FINANCING by TYPE of SALE
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | CASH SALES & THE MARKET
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | CONVENTIONAL LOANS in the Market
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | FHA LOANS in the MARKET
San Jacinto, CA MARKET REPORT: SOLDS | 6/21/2009 - 7/20/2009 | VA LOANS in the MARKET
If you want to Track the Market, then please read more about the preceding period at any of these links:
Financing - CASH
Financing - CONVENTIONAL
Financing - FHA
Financing - VA
Financing - LAND CONTRACT
FINANCING OBSERVATIONS
Market Summary - Why local is Important
Blessings to all who read,
John Occhi, REALTOR®
www.JohnOcchi.Com
Hemet - San Jacinto Valley
951-6564-5550
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