Market Snapshot - San Jacinto CA 92583 | June 30, 2007
by, John Occhi, Hemet - San Jacinto Valley CA REALTOR
Hemet - San Jacinto CA Real Estate
At the request of an investor client who found me here on ActiveRain, I was asked to provide a snapshot of the current activity for homes for sale in San Jacinto, CA in the 92583 zip code.
If you are a homeowner in this zip code, you will probably find this data rather disturbing. Although it is not as disturbing as zip code 92582 in western San Jacinto CA has experienced during the same period.
Traditionally, the busiest time of year for real estate is the late spring early summer - as new home buyers want to be able to move during the summer months so the children will be able to start their new schools in September. Well, both May and June, 2007 have only produced 22 sales for the entire zip code; 10 sales were reported in June 2007and 12 in May, 2007. There are currently 201 homes for sale in the zip code. This is over a year and a half worth of inventory of homes for sale in San Jacinto CA, zip code 92682.
There is a sharp contrast to the same period a year ago. Although I do not have the data to report how many homes were actively listed on the MLS for sale at this time, I can tell you that a total of 57 homes sold and closed escrow between May 1, 2006 and June 30, 2006. Of these homes for sale, 33 of them were sold in May, 2006 and the remaining 24 were sold in June of 2006 - supporting the theory that May is the busiest month of the year.
Of all 57 homes sold during this period, the longest any one of them had been on the market was 190 days and only 6 homes were listed for sale more than 100 days. Of the 22 homes that sold this year during this period, 8 of them were on the market of over 100 days, 2 of which were on for over 200 days, capping at 216 days on market (DOM). Of the 201homes currently listed for sale in San Jacinto CA zip code 92583 61 of them have been on the market for over 100 days of which 13 have over 200 DOM, of which 8 have over 500 DOM - capping at 354 DOM!
To understand the "inventory" figures below, simply divide the number of homes sold by 2 - since this represents a 2 month period, then divide it by the number of active listings.
For example, if there are 15 homes active in a given size of home and there have been three sales, you would divide the 3 by 2 and get 1.5. You would then divide the 15 active listings by the 1.5 average sales per month and you would discover the existing inventory of homes for sale in San Jacinto CA zip code 92583 is at 10 months. This will tell you how long it should take to sell off the existing inventory of homes for sale in San Jacinto, CA - zip code 92583
As you review the data below, you may discover that there are certain sizes of homes that are not reported here. The reason is there has been no activity during the period of May-June 2007.
You will also notice there have not been any sales in several of the various listings of homes for sale that are reported as having a 2 year inventory. This is just a guestimate - as there is no data to pull from, specific to this category. I feel as if I have been generous, since the overall numbers tell me it will take 3 years to sell off the existing inventory of homes for sale in San Jacinto CA zip code 92583 at the current rate of 3 homes a month...and this assumes that no new listings of homes for sale will be generated (which we know is not the case).
I broke the information down by size of home:
San Jacinto CA Real Estate | Zip Code 92583
2 Bedroom 1 Bath:
Active Listings: 16
Asking Price Range: $120,000 to $300.000
DOM Range: 2 to 354
SOLD Between 5/1/07 and 6/30/07: 2
SOLD Price Range: $189,900 to $245,000
SOLD DOM: 23 to 149
Inventory: 1 years 4 months
San Jacinto CA Real Estate | Zip Code 92583
2 Bedroom 2 Bath:
Active Listings: 33
Asking Price Range: $149,900 to $424,900
DOM Range: 8 to 323
SOLD Between 5/1/07 and 6/30/07: 5
SOLD Price Range: $164,000 to $319,900
SOLD DOM: 8 to 198
Inventory: 1 years 2 months
San Jacinto CA Real Estate | Zip Code 92583
3 Bedroom 1 Bath:
Active Listings: 3
Asking Price Range: $259,900 to $269,000
DOM Range: 11 to 97
SOLD Between 5/1/07 and 6/30/07: 0
SOLD Price Range: NA
SOLD DOM: NA
Inventory: 2 years 0 months - Just a guess since we have not sold one for 2 months
San Jacinto CA Real Estate | Zip Code 92583
3 Bedroom 2 Bath:
Active Listings: 63
Asking Price Range: $230,000 to $399,900
DOM Range: 3 to 348
SOLD Between 5/1/07 and 6/30/07: 9
SOLD Price Range: $230,000 to $325,000
SOLD DOM: 8 to 202
Inventory: 1 years 2 months
San Jacinto CA Real Estate | Zip Code 92583
3 Bedroom 3 Bath:
Active Listings : 7
Asking Price Range: $299,900 to $759,900
DOM Range: 19 to 158
SOLD Between 5/1/07 and 6/30/07: 1
SOLD Price Range: $345,000
SOLD DOM: 91
Inventory: 1 years 2 months
San Jacinto CA Real Estate | Zip Code 92583
4 Bedroom 2 Bath:
Active Listings: 36
Asking Price Range: $269,9000 to $429,900
DOM Range: 9 to 143
SOLD Between 5/1/07 and 6/30/07: 0
SOLD Price Range: NA
SOLD DOM: NA
Inventory: 2 years 0 months - Just a guess since we have not sold one for 2 months
San Jacinto CA Real Estate | Zip Code 92583
4 Bedroom 3 Bath:
Active Listings: 26
Asking Price Range: $309,900 to $440,000
DOM Range: 5 to 323
SOLD Between 5/1/07 and 6/30/07: 2
SOLD Price Range: $365,000 to $370,000
SOLD DOM: 57 to 216
Inventory: 2 years 2 months
San Jacinto CA Real Estate | Zip Code 92583
5 Bedroom 2 Bath:
Active Listings: 2
Asking Price Range: $279,500 to $347,000
DOM Range: 26 to 191
SOLD Between 5/1/07 and 6/30/07: 0
SOLD Price Range: NA
SOLD DOM: NA
Inventory: 2 years 0 months - Just a guess since we have not sold one for 2 months
San Jacinto CA Real Estate | Zip Code 92583
5 Bedroom 3 Bath:
Active Listings: 11
Asking Price Range: $345,900 to $450,000
DOM Range: 15 to 349
SOLD Between 5/1/07 and 6/30/07: 2
SOLD Price Range: $315,000 to $384,000
SOLD DOM: 26 to 114
Inventory: 11 months
San Jacinto CA Real Estate | Zip Code 92583
6 Bedroom 3 Bath:
Active Listings: 1
Asking Price Range: $424,800
DOM Range: 39
SOLD Between 5/1/07 and 6/30/07: 1
SOLD Price Range: $363,000
SOLD DOM: 48
Inventory: 2 months
San Jacinto CA Real Estate | Zip Code 92583
6 Bedroom 5 Bath:
Active Listings: 2
Asking Price Range: $679,900 to $1,199,990
DOM Range: 67 to 358
SOLD Between 5/1/07 and 6/30/07: 0
SOLD Price Range: NA
SOLD DOM: NA
Inventory: 2 years 0 months - Just a guess since we have not sold one for 2 months
San Jacinto CA Real Estate | Zip Code 92583
7 Bedroom 3 Bath:
Active Listings: 1
Asking Price Range: $379,000
DOM Range: 44
SOLD Between 5/1/07 and 6/30/07: 0
SOLD Price Range: NA
SOLD DOM: NA
Inventory: 2 years 0 months - Just a guess since we have not sold one for 2 months
If you find this information interesting and feel it might help you in analyzing the local San Jacinto, CA real estate market - please feel free to use it. If you have any specific questions on any aspect of the San Jacinto Real Estate market - just ask, and I'll get the answer for you. If you would like similar information for the Hemet - San Jacinto valley - either ask or keep an eye open, because more will be coming in the next couple of weeks.
Until then, Have a Blessed Day,
John Occhi, Hemet - San Jacinto Valley REALTOR
Mission Grove Realty
TheHouseSeller@GMail.Com
(951) 443-6259
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Market Snapshot - San Jacinto CA 92582 | June 30, 2007
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