CASH SALES & THE MARKET
In the next 4 sections of the San Jacinto Real Estate Market Report for the period covering 6/21/2009 through 7/20/2009 we are going to look at how each type of financing affects the market and compare to the AVERAGE SOLD HOME in San Jacinto during this same period. In this section, we will be looking as CASH SALES.
From our Earlier Report we learned that the AVERAGE SOLD HOME in San Jacinto had 2,135 square feet of living space and 3.76 bedrooms with 2.3 bathrooms and that it was built in 1979.
The Cash Sales of San Jacinto, CA homes were built 10 years later on average in 1989 and were only 91 square feet smaller at an average of 2,044 and had, on average 3.7 bedrooms and 2.2 bathrooms.
Lot Sizes for Cash sales were also larger than the average of 8,051 square foot yards with 8,201 sq ft.
The Average List Price and Sale Price for all homes sold in San Jacinto during the period of 6/21/2009 through 7/20/2009 was 126,612 and 128,971 respectfully with a List Price to Sold Price Ratio of 101.44%. Cash Sales were definitely below this mark with a average List Price of only $104,700 and Sold Price of $104,286. This translates to a List Price to Sold Price Ratio of 99.66%.
Cash Sales also came in below average when looking at marketing time and days in escrow. The Average DOM for all sales was 64 these homes went much quicker at 48.66 DOM. The same can be said for the Day in Escrow where the average was 48 and the Cash Sales were able to successfully close escrow in only 38.45 days.
Finally, my pet peeve is the photos the listing agent put in the MLS. While the average was 7 Cash Sales were pretty much right there with 7.1 pictures per listing in the MLS.
As previously reported, of the 29 CASH SALES 1 was a Standard Sale, 2 each for the Probates and Short Sales and the remaining 24 were all Bank Owned REOs.
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
Market Summary - Why local is Important
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.
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