What a beautiful day it is in the city of Wildomar! The thunder storm has finally passed and the beginning of Spring has come. Let's see if this wonderful Wildomar weather comes with good news for the real estate market. Generally, the criteria for my market projections are single family homes, detached, and with 3+ bedrooms, 2+ baths. Let's see what Wildomar has done for us this March:
• Total # Actively Listed On Market in March: 64
• Average Wildomar Property Listed Price: $ 237,146
• # of Wildomar Properties Sold in February: 30
• Average Sold Wildomar Home Price: $ 202,632
• Average Days On Market Of Homes Sold in February: 112
Well this was an interesting month for Wildomar's housing market. There were numerous major percentage changes involving both the actives for March and the closed for February. Let's see if looking at the closed figures from February first will show us where March's active numbers are going. The biggest percentage change from month to month was for the number of days on market. It grew from 72 days to a whopping 112 days on market! That is about a 55% change in days. That is a difference I rarely see month to month. The amount of sold properties also increased about 36.36% from 22 properties in January to 30 properties in February. It may have taken a whole lot longer for these properties to close but the amount of homes that closed shot up too. The price at which these properties sold decreased a minor 1.22%, which is about a $3,200 difference. With the major changes in figures, let's see if we can see the trend continuing or changing again.
Now we see the number of active homes listed as well as the price of those listed homes fall from the month of February to the month of March. The listed price decreased about 1.1% from $239,790 to $237,146. This $3,500 decrease is also a minute change in price. Having said that, the amount of properties actively listed decreased 21% from about 80 homes in February to 64 homes in March. Can we predict if what we saw close in February will continue on as an increasing trend? I don't believe so. Looking back at my previous months' market stats, the numbers were all lower. We will just have to wait and see what next month brings us.
Well, that is my Wildomar real estate market report for March 2012. I hope I leave you and your family well and happy. If you have any questions, don't be afraid to contact me anytime. Thank you and Happy March!
Stefan West
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