What is my home worth - this is a constant question I get when people I run into realize that I am a Realtor.
You can get your basic community trends on the website here.
Type your own zip cod and get your local values.
This is basic info, trends, listed vs sold values and volume of inventory, it is a general view of how the market it doing.
If you want a more accurate market value for your home CLICK HERE FOR MARKET VALUE
Let's dig intoto the Januray 2016 East Murrieta House Values Report.
Median Listing Price
Median Days on Market
(foreclosures and short sales)
Understand the difference between "listing prices" (what sellers are asking for) and "sold prices" (what buyers are willing to pay).
By comparing these price trends, you'll have a good idea of where the market is heading. The median listing and sold property prices are calculated based on the market activity each month.
The number of active listings in Murrieta (92563) increased by 24.4%from the previous month.
The median number of days active properties have been listed is 63. This is significantly shorter than the national average.
The number of sales in December dropped by 88.6% from the previous month.
Comments on the East Murrieta Market Report for January 2016:
Here are the obvious changes - Active listings increased 24%, more property is going up for sale.
Days on market are 63 last month - that was aroudn 45 in the fall - this can be a reflection of an expectation of higher values in spring - I see houses priced over the current market value - this strategy brings a host of other issues with it (That's for a different blog post).
The market is getting faster, the direct effect is that although more property is available, more buyers are too, and the nice properties are seeing a run on them. This is good for sellers!
Ask me how you can get more exposure for your property!