Hemet - San Jacinto, California December 2010 Market Conditions

By
Real Estate Appraiser with BAYER APPRAISALS

Appraiser Adjustment Matrix

Area              Hemet - San Jacinto                                    Date 12/15/2010

Square Footage

0-3 Months

4-6 Months

Difference

2800-3000

$175,000

$166,500

$8500

2600-2800

$165,000

$168,000

$-3000

difference

$10,000

$-1500

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2400-2600

$162,000

$165,000

$-3000

difference

$3000

$3000

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2200-2400

$155,000

$155,000

$0

difference

$7000

$10,000

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2000-2200

$149,900

$150,000

$-100

Difference

$5100

$5000

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1800-2000

$138,950

$143,500

$-4550

Difference

$10,950

$6500

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1600-1800

$128,000

$130,000

$-2000

Difference

$10,950

$10,950

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1400-1600

$120,000

$115,000

$5000

difference

$8000

$15,000

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1200-1400

$101,000

$106,000

$-5000

difference

$19,000

$9000

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Difference TOTAL

$74,000

$60,500

$-4150

Divide by 8

$9250

$7562

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Divide by 9

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$-46

Divide by 200 sq'

= $ per Sq' $46

= $ per Sq'  $38

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Divide by 90 days

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= $ per day $-5

Data used is median sales prices in the area - for either current to 3-months or 4-6 months; by house square footage ranges.  In the gray boxes in the difference between the 2 median prices per the adjacent ranges.  The difference in median sale prices per square foot was $46 in the most recent 3-month period ($48 in the prior 3-month period).  Prices for the current 3-months vs. the prior 3-months finds prices on average going down $5 per day (or about: $150 per month).    The number of single family homes sold in the past month was 200 this year vs. 251 last year.  Most of the homes sold this year and last were REOs, The standard sales pull the highest prices, the REOs sell the fastest and the short sales are most of the current listings and take the longest to sell.  Listings vs. 1-month of pending sales found we now have a standing inventory of 4.5 months - and this has been increasing over time.

 

Total Number

% Standard

% REO

% Short Sales

Active Listings

854

15%

22%

49%

Pending Sales

187

12%

52%

23%

Closed Sales

200

14%

55.5%

21%

Sold 1-year ago

251

8%

67%

15.5%

Median sold prices

Standard Sq'

REO per Sq'

Short per Sq'

Standard DOM

REO DOM

Short sales

DOM

2009

$71

$65

$62

49

34

138

2010

$78

$65

$68

57

49

159

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