Westminster Market Report January

Westminster Market Report January

Zip Code: 92683

People and clients alike keep asking me what’s going on with the market? Is it a good time to buy? Of course all this depends on their situation, but yes, this could be a great time to buy. Interest rates are their lowest in years, and prices have come down to more affordable levels. Let’s check the facts directly off the MLS.

There are 104 SFR and 15 condo active listings as of January 30, 2012. There were 24 closed sales for both SFR and Condos in November with an average 80 days on the market. Last year this time, there were 30 closed sales, with an average of 71 days on market. The turmoil in Europe, and more specifically, problems with (PIIGS) economy in Portugal, Ireland, Italy, Greece, and Spain may have more of an impact on our economy than previously thought. Issue that weigh on our economy and with continued unemployment, I believe, seem to be stalling what could be a healthy recovery in our housing market.

 Thank you,

Alan Adamo

714-726-5429