Off and Running? The High Desert real estate market in the new year.

By
Real Estate Agent with ERA Excel Realty

With sales continuing to be sluggish and new homes hitting the market at a feverish pace recent gains will be difficult to hold.

Victor Valley:                                                                                                                                  1/9-1/15- 65 homes closed escrow at an average sales price of $60 per sq. ft. for $132,397 after spending 73 days on the market.

Home placed on the market: 133, at $75 per square foot and an average price of $153,511

Antelope Valley:                                                                                                                                  1/9-1/15- 77 homes sold at $72 per square foot, and an average sales price of $139,356

Homes placed on the market to sell: 164 homes at $85 per square foot, averaging $164,235

Too many homes on the market?

Still a little too early to tell if this is going to turn into a trend.  But if we continue to see twice as many homes coming onto the market as those selling it could turn into a very tough year indeed for Sellers, and home-owners.  For Buyers this may be the last chance to finally own your own home for many people, but wait too long and rising interest rates may make it a mote point.

Comments (2)

Anonymous
Anthony Garcia Santibanez

I have bought and sold property for over 25years and never have I had a worse time trying to close a listing. Everything Mr Pratt did was to slow it down or cancel it or threaten a law suit.  I almost died laughing when I read his blog...claims he doesn't know it all, but on the phone, he is condensenting, infantile and arrogant as he can be.

Jul 26, 2011 05:27 PM
#1
Anonymous
Russ Pratt

Mr.Santibanez,

Thank you for your comments.  Unfortunatly I do not recall ever having done business with you in the past.  Additionaly since I am a listing agent my job is to try and move the escrow process forward not slow it down or delay my clients from receiving their funds.  I truly hope you have a better experience on your next transaction.

Jul 26, 2011 06:07 PM
#2