La Verne Market Watch - May 8-14, 2013
Okay, so the last statistics have proven to you that it is definitely a SELLERS MARKET. But the trend is continuing here in this week's La Verne Market Watch.
Last week, there were a total of 5 new listings. Less inventory means higher prices and makes it a sellers market in La Verne. When you compare this week's 5 to the 6 sold homes it shows you that this is definitely still a sellers market in La Verne, CA. 
What does this mean to you if you want to sell? This means that your home will be sold in a short period of time and many times will sell for more than the asking price. Naturally, this doesn't mean that you can price your home high and expect the same results. But that's another whole blog. This whole environment can cause bidding wars which can make the price of your home increase by quite a bit.
There were 1 price changes, and 4 more have gone into back-up status. Back-up status means that the home has an accepted offer but for some reason they are preparing in case the buyer backs out, or for some other reason like a short sale waiting on the bank's response. And when you figure in the 2 that went pending (into escrow), that's a whole lot more properties than came on the market this week.
So, in recap, 2 pending, 6 sold, and 4 into back-up for a total of 12 homes off the market. When you compare that to the 5 that came into the market, you can easily see why this is still a sellers market in La Verne, CA. The listings are rising, but we are still a bit buyer heavy. At least things are starting to turn around here.
If you are thinking of selling in the SoCal 210 Corridor, please call me for a free home valuation during the month of May. And if you have real estate question, or other real estate needs, please don't hesitate to call me. I will be honored to help you.
**All statistics are taking from the IMRMLS. Reflects the week of May 8-14, 2013
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