Joshua Tree Real Estate Market Update June 2008

By
Real Estate Agent with JT Village Realty

(As posted from my blog at http://joshuatreeagent.wordpress.com)

Well summer is here, and it is hot and humid! Along with summer, at least the last couple of summers, comes a slow down in real estate sales for our local area. It seems like people don't like to trek around in 100 plus degree weather. But should you decide to brave the heat to go house shopping ... you could be rewarded with a great deal!

As far as the June real estate activity ... as a whole ... wow, I'm sure some are glad it is over. In Joshua Tree, there were seven homes sold last month, compared to sixteen the year before. (A decline of 56%). Of those seven homes, two were my listings, and 4 of the 7 were bank owned properties. The average selling price for June 2007 was $223,406, while this June averaged $198,357 (a decline of 11%). Please keep in mind that this is a comparison of June 2008 to June 2007.

Here is a look at June 2008 compared to May 2008:

 

Joshua Tree Real Estate Conditions for June 2008

Joshua Tree Real Estate Conditions for June 2008

  Joshua Tree Real Estate Conditions for may 2008

Joshua Tree Real Estate Conditions for May 2008

 

Some items to note, is that the number of listings increased slightly in the more active three segments ($0 - 119,999, $120,000 - 179,999 and $180,000 - 274,999). In those segments, Average number of sales per month increased, the average days on market decreased and remaining number of month's inventory decreased, in all except the middle segment. Selling price % of the listing price remained constant.

 

In the two upper segments results were mixed. It got slightly better for the $275,000 - 449,999 range while the $450,000 and up range continued to really struggle.

 

What we really want to watch in these tables is the "Remaining Number of Months Inventory". Watch the way that that is tracking: down is good and up is not. (If we get back towards six months of inventory the market is considered balanced).

Tomorrow we'll take a look at Twentynine Palms numbers.

You can find the rest of this blog post at http://joshuatreeagent.wordpress.com/

 

Dave Haworth, Realtor ®
JT Village Realty
Mobile: 760.898.4188
Office: 760.366.8642
Fax: 760.366.0111
Email: dave@jtvillagerealty.com
Web: www.joshuatreeagent.com
Blog: http://joshuatreeagent.wordpress.com/
Twitter: https://twitter.com/JoshuaTreeAgent

Preview Joshua Tree and surrounding area properties at www.joshuatreeagent.com.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Location:
California San Bernardino County Joshua Tree
Tags:
real estate market update
joshua tree real estate
dave haworth

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
2,456,301
Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

We invite you back to ActiveRain in 2017.

  Much has changed since your last blog post.

  Best to you!

Jun 24, 2017 07:22 PM #1
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
2,921

Dave Haworth

Ask me a question
*
*
*
*
Spam prevention

Additional Information