AV Real Estate Market Update | December 2018

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    Real Estate Stats

    NOVEMBER Ended With The Following INVENTORY TRENDS

    • 1,748  Homes on The Market:  4% less  than October & 52% More than November 2017… That is a massive increase!
    • 632 New Homes: 17% less than the month before, but was up 11% year over year.
    • 449 Homes go into Escrow: Which was the same as last month, and 11% more than a year ago.
    • 383 Homes Sell: Which is down from last month -by 18%.  It is also 10% lower than last year.
    • 3.76 Months of Inventory: This was 3% less than October, and 61% higher than last year.
    • 45.3 Average Days on Market: That was 12% higher month over month, and 22% higher year over year.

    NOVEMBER Ended With The Following PRICING TRENDS

    • $305,000 Average Sales Price: Up 1.5% from Oct, and is still up 5% from Nov. 2017.
    • $350,000 Average Listing Price for ”All” Homes on The Market
    • $320,000 Average Listing Price of ”New” Homes on The Market
    • $303,000 Average List Price of Homes that Went into Escrow
    • 98.6% List Price to Selling Price Ratio: Which was pretty close to the prior month, and only 0.10% lower than last year.
    • 96.6% Original List Price to Selling Price Ratio: Was 1% less then the prior month and down 1.13% from last year.

    The Two Inevitable Burning Questions…

    1. So Is Now Still A Good Time To Buy?  
    2. Is Now A Good Time To Sell?

    I am going to tackle both of these with the same answer:  It depends.  The largest factor in how I answer the question on a case by case scenario is: What is the goal you ultimately want to achieve, and are you operating on a long term plan, or a short term plan.  Then we can dive into the more detailed approach on what makes the most sense for you, and as always what I would do if I were in your shoes.

    You can take a look at all of the homes for sale in the Antelope Valley (and pretty much all of Southern California) by Clicking Here.

    To find out what your home is worth, you can get a quick evaluation here: https://www.talbotandwatson.com/home-valuation/

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