With only two more months left of 2014, most are wondering how 2015 projections are looking for sellers and buyers. A recent forecast by the California Association of Realtors gives much hope to homebuyers for the coming year, with a prediction of a growing supply of inventory, leveling home prices and less competition with investors. There is also a prediction that mortgage interest rates will remain at historically low levels throughout 2015. This is an incredible outlook for the coming year. And with that being said, 2014 has been a very solid year in the real estate market.
The Martinez real estate market has seen a lot of ups and downs throughout the past ten months, though the median sale price has remained pretty steady. There was an 11% year over year increase, from $412,500 to $458,358. And from September to October there was a decrease of roughly 14%. These small month to month variances have been the norm for 2014 as far as median sale price is concerned. The number of sold properties by month has a 36% year over year decrease, from 36 units to 23 units this October. The month to month variance was nearly the same, with 35 units in September. And lastly, the number of new properties increased 22% year over year from 41 in October 2013 to 50 in October 2014. Overall, October was a good month for Martinez real estate and if things continue on the same path, 2014 will end on a high note.
November Community Event
Earlier Than The Bird
|Earlier Than The Bird
|Saturday, November 22, 2014
|Gather your shopping buddies and get a head start on holiday shopping in downtown Martinez!
Participating stores will have special deals and treats!
Check back for list of participating businesses