AV Real Estate Update January 2019…
Real Estate Stats
JANUARY Ended With The Following INVENTORY TRENDS…
- 1,541 Homes on The Market: 5.6% less than December & 51.4% More than January 2018… That is a massive increase!
- 749 New Homes: 74% more than the month before, and was up over 10% year over year.
- 447 Homes go into Escrow: Which is 34% more than last month, and 10% more than a year ago.
- 357 Homes Sell: Which is down from last month by 16%. It is also 1.4% lower than last year.
- 3.34 Months of Inventory: This was 5% less than December, and almost 60% higher than last year.
- 56 Average Days on Market: That was 23% higher month over month, and about 40% higher year over year.
DECEMBER Ended With The Following PRICING TRENDS…
- $307,555 Average Sales Price: Down 0.2% from December, and is also down 1.1% from Jan 2018.
- $341,135 Average Listing Price for ”All” Homes on The Market
- $328,681 Average Listing Price of ”New” Homes on The Market
- $309,496 Average List Price of Homes that Went into Escrow
- 98.6% List Price to Selling Price Ratio: Which was down 0.1% to the prior month, and 0.30% lower than last year.
- 97.1% Original List Price to Selling Price Ratio: Was 0.2% higher then the prior month and down 1% from last year.
The Two Inevitable Burning Questions…
- So Is Now Still A Good Time To Buy?
- 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/