Graph is between Aug 2011 and Jan 2012
Property Class includes- 'Single Family Residential', 'Townhouse/Condo’
Area is '44 Capitola'
Results calculated from approximately 130 Listings
Capitola Real Estate Market Update - For the last 6 months, the Capitola Real Estate market held under 7 months of unsold inventory indicating a strong seller’s market. In January 2012 the inventory increased to 57 single family homes with only 2 sold units. This sky-rocketed the unsold inventory to 28.5 months from December’s 6.2 months, indicating a transition to a strong buyer’s market.
So what does months of unsold inventory mean and why is it important to follow? To understand Capitola’s unsold inventory, we take the total number of listed homes available and divide by the number of homes sold per month in the area. This is the best determinant of a real estate market’s health. A stable market maintains a 7-9 month supply of available homes. Under 7 months indicates a seller’s market while over 9 months indicates a buyer’s market.
We won’t know until next month if this is the sign of an unhealthy market or a numerical anomaly caused by the end of the calendar year. A 28.5 month’s supply of real estate inventory for Capitola could drop prices further and open up more opportunity for home buyers in Capitola, CA.
Month Months of Unsold Inventory
Aug 2011 4.5
Sep 2011 6.0
Oct 2011 4.1
Nov 2011 6.5
Dec 2011 6.2
Jan 2012 28.5
Comments(0)