San Jacinto, CA - Market Action Index per Quartile September 28, 2009
San Jacinto Ca real estate market has definitely shifted from being a buyers market to a sellers market. On the home page of my website, JohnOcchi.Com I have added a new feature available through AltosResearch that updates weekly.
Viewers have the opportunity to subscribe and receive a detailed report sent directly to their email box, once a week. The data is amazing. It allows anyone who is interested the ability to accurately track the local San Jacinto, CA market conditions to include pricing, levels of supply and demand as was a number of different value metrics.
The current report is available right now for the week ending September 28,th 2009.
MARKET OVERVIEW
The "Market Action Index " is the result of an automated review of numerous statistics which currently have the real estate market very close to shifting from a buyers market to a sellers market, in San Jacinto CA
INVENTORY REVIEW BY QUARTILE
The Quartile is a statistic that breaks the whole into four equal segments and looks at each separately. In other words what is happening at the top of the market is typically not what is happening at the bottom of the market, and visa versa. The same can be said for the middle of the market. The theory is that each quarter of the market is a unique market in and of itself.
Take a look...
SUPPLY AND DEMAND
By looking at the above chart here is proof positive that the demand for new housing has exceeded the inventory of homes entering the local San Jacinto, CA real estate market. Until the excess inventory is consumed, prices will not dramatically increase. This principal of ‘supply and demand' will have a direct impact on overall pricing as inventory levels decrease turning the favor of the market from the buyer to the seller.
Of course, there is still an expectation of many new listings entering the market as the banks continue to foreclose and take possession of REO homes.
MARKET ACTION INDEX
As mentioned earlier, this is the index of numerous statistics looking at the overall San Jacinto CA Real Estate market, citywide. When you subscribe to the free report on my website, you will have access to all of this information and more broken down by zip code.
DAYS ON MARKET
This number may seem very high to some - it does to me, as an REO Listing Agent it is rare for a property to be on the market for a couple of weeks without multiple offers. The conclusion is that this data looks at all listings - to include the multitude of short sales that have very little opportunity of ever going into escrow...let alone closing escrow.
Interesting to see how things are today in comparison to a year earlier...
If you want to see more details, then please visit JohnOcchi.Com and register for the full multi-page report and have it delivered automatically, once a week straight to your email box.
Until Next Time, Have a Blessed Day,
John Occhi, Hemet CA REALTOR®
This blog and the contents written here is the intellectual property of John Occhi, Hemet - San Jacinto Valley REALTOR® in the South West Riverside County region of the Inland Empire of Southern California. The views and opinions expressed are just that - views and opinions of John Occhi and those who comment. Please note that I am not an attorney or a tax professional and any time I discuss either topic, I suggest you consult with the proper professional for relevant assistance.
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