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.