Buyers: There are many homes to choose from on the market right now. You have your pick from motivated sellers to distressed properties. I recommend purchasing in the second half of this year, because at that time you will have the most to choose from and interest rates may begin to rise. Remember, you can view all homes for sale, including foreclosures, online at SanDiegobythesea.com.
Sellers: Recent reports of Apirl’s sales up 33.3% from March show that our housing market is showing signs of life, but one month does not necessarily signal a trend. To sell a property in this market it will still be necessary for you to price it at market value to remain competitive. A prudent and thoughtful marketing strategy is crucial to make your property standout from the rest. Homes do not sell by happenstance. Visit SanDiegobythesea.com to see how we can sell your property.
Southern California homes sales jump 22 percent in April
Southern California homes sales jump 22 percent in April
ASSOCIATED PRESS, May 19, 2008
By Elliot Spagat
SAN DIEGO – Home sales surged 22 percent in Southern California during April as bargain-hunters bought lower-end homes in areas hardest hit by foreclosures, a research firm said Monday.
Sales of new and resale homes and condos reached 15,615 in April, up from 12,808 in March and the highest monthly total since August, according to DataQuick Information Systems.
The monthly increase of 22 percent in the six-county region is well above the average gain of only 1.2 percent from March to April since DataQuick began keeping statistics in 1988.
Homes under $500,000 accounted for two-thirds of the monthly gain, DataQuick said. Riverside County, which the firm calls the “epicenter” of foreclosures and price declines in Southern California, posted the region's only annual sales increase, its first in two years.
“Quite a few more buyers stepped off the sidelines last month to snap up homes at substantial discounts relative to the market's short-lived peak,” said DataQuick President Marshall Prentice.
Foreclosures drew buyers, according to DataQuick. Nearly 38 percent of homes resold in April were in foreclosure at some point during the previous 12 months, compared to 36 percent in March and only 5 percent in April 2007. In Riverside County, foreclosures accounted for 53 percent of resale homes sold.
April's median home price in Southern California was $385,000, down 24 percent from $505,000 in April 2007.
Despite the sales surge since March, April sales were down 19 percent from 19,269 in the same period last year, marking the weakest April tally since 1995, DataQuick said.
“We continue to look for evidence of a sales bounce in the mid-priced and higher-end markets along the coast,” Prentice said.
ASSOCIATED PRESS, May 19, 2008
By Elliot Spagat
SAN DIEGO – Home sales surged 22 percent in Southern California during April as bargain-hunters bought lower-end homes in areas hardest hit by foreclosures, a research firm said Monday.
Sales of new and resale homes and condos reached 15,615 in April, up from 12,808 in March and the highest monthly total since August, according to DataQuick Information Systems.
The monthly increase of 22 percent in the six-county region is well above the average gain of only 1.2 percent from March to April since DataQuick began keeping statistics in 1988.
Homes under $500,000 accounted for two-thirds of the monthly gain, DataQuick said. Riverside County, which the firm calls the “epicenter” of foreclosures and price declines in Southern California, posted the region's only annual sales increase, its first in two years.
“Quite a few more buyers stepped off the sidelines last month to snap up homes at substantial discounts relative to the market's short-lived peak,” said DataQuick President Marshall Prentice.
Foreclosures drew buyers, according to DataQuick. Nearly 38 percent of homes resold in April were in foreclosure at some point during the previous 12 months, compared to 36 percent in March and only 5 percent in April 2007. In Riverside County, foreclosures accounted for 53 percent of resale homes sold.
April's median home price in Southern California was $385,000, down 24 percent from $505,000 in April 2007.
Despite the sales surge since March, April sales were down 19 percent from 19,269 in the same period last year, marking the weakest April tally since 1995, DataQuick said.
“We continue to look for evidence of a sales bounce in the mid-priced and higher-end markets along the coast,” Prentice said.
Subscribe to:
Posts (Atom)