SAN JACINTO, CA MARKET SNAPSHOT - July 2007

SAN JACINTO, CA MARKET SNAPSHOT - July 2007

SAN JACINTO, CA MARKET SNAPSHOT  
by John Occhi, San Jacinto CA REALTOR®  
San Jacinto CA Real Estate         

Well, it's time to take another look at the real estate market in San Jacinto CA.  I wish I could report better news, but hey, I am just the messenger.

During the month of July, 2007 76 single family residences were added to the rolls of the San Jacinto San Jacinto Association of Realtors (HSJAOR) MLS and yet only 30 homes in total came off of the San Jacinto MLS.

The sharp contrast is further magnified with the pricing.  The new listings have an average List Price (LP) of $335,565. 

Another 11 homes went under contract in July 2007- or as we use the status/term PENDING.  The Average List Price of the PENDING homes is $260,354 compared to the Average Sold price (SP) of the 15 homes that sold in San Jacinto in July 2007, which was only $300,096.  The LP/SP difference in price is 99.25%.

The SOLD listings averaged 87 days on market.

A PEEK INTO THE PAST

Looking at the same period from a year earlier, the local San Jacinto CA real Estate market introduced 80 new homes to the MLS with an average LP of $357,452

The Pending category included 27 single family residences in San Jacinto with an average LP of $321,611

The homes were selling HOT last July - with 116 homes for sale closing escrow in all of San Jacinto with an average SP of $336,776 after pending only an average of 76 days on market (DOM).  The difference between the homes that Sold in July 2006 and the asking price was a 99.87% ratio.

Lets Compare:
                                                  2007              2006
New Listings:                                  76                   80
Pending Listings:                            11                   27
Sold Listings:                                 15                   30
Average DOM:                                87                   76
Avg LP:                                    $335,565         $357,452
Avg Pending Avg LP:                  $260,354         $321,611
Avg Sold Price:                          $300,096         $336,776
LP/SP Ratio:                               99.25%            99.87%

I don't get it.  The people who want to sell their home only dripped the price $21,887 in value.  Those that went under contract dropped $61,257 while those that closed escrow in San Jacinto CA during the month of July 2007 are $36,680 less than the homes that sold last year at this same time.

There are currently 298 homes for sale in San Jacinto CA.

I research and publish this information to establish myself as an expert authority in the San Jacinto San Jacinto real estate market.  The information is very helpful in evaluating the potential a client has in a retail sale of their San Jacinto Home or the consideration of a Short Sale

This information is directly from the SoCalMLS and the Information is Believed To Be Accurate But Not Guaranteed

Now Have a Blessed Day,

John Occhi, Hemet - San Jacinto REALTOR®
Mission Grove Realty