Gonella Realty's Market Update

Properties are taking less time to sell than last year, Sep. of 2016 average days on market 62, Sep. 17 average days on market 43 days.

Median sold price for Sep. 2017, 255K this is up 19% from Sep. 2016 when the median sale price was 214K, and up 24% from Sep. 2015 when the median sell price was 205K, so in the last 24 months properties have appreciated 1% per month.

Prices are continuing to increase and the inventory of available property for sale continues to remain at historical lows. These two factors make it an excellent time for sellers to place their property on the market. Because of this rapid appreciation, you may be pleasantly surprised by the value of your home. Contact one of our Real Estate Professionals to obtain a free competitive market analysis.

On the other hand, if you are thinking of buying, interest rates remain at historical lows and your buying power may be the best it has been in years. Contact anyone of our agents today.

Coldwell Banker Gonella Realty also provides Property Management services, and Commercial Real Estate services, we are your one stop shop for all of you real estate needs in Merced County.

Coldwell Banker Gonella Realty- Merced Office (209) 383-2171

Coldwell Banker Gonella Realty- Atwater Office (209) 358-6429

Coldwell Banker Commercial Gonella Realty- (209) 725-7253

Gonella Property Management (209) 383-6277

Coldwell Banker Gonella Realty CalBRE# 00654462

Merced is still very affordable, 52% of the local community can afford to buy the median price home in the county, in comparison, 31% in the state of California and 13% in San Francisco, can afford to buy the median priced home.

Locally the inventory is down to 1.8 months, the lowest it has been in the last 12 months.

With low inventory you have lots of buyer’s chasing very few properties, prices have moved up. 13% up in the past 12 months, from 199,500 to 225K. In the past 24 months sales prices have gone from $169,225 to $225,000, that’s a 32 % increase in value.

The Spring Buying season is the best time of the year to place your home on the market. Demand is very strong, interest rates are still very low and most homeowners are pleasantly surprised when we evaluate their homes and let them know what their homes are worth.

Call any of our professional agents with your home buying needs, or our Property Management with your Rental needs, we also have a Commercial office that can help you with a commercial lease or purchase.

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

Gonella Realty also offers Property Management services.  If you are interested in our company managing your property, please contact Property Manager Kathy Jameson, or Assistant Property Manager Tina Winek.

Email: kathy@gonellarentals.com

Tina@gonellarentals.com

Phone:                                         209-383-6277

For any Sales or Leases of Commercial Properties:

Commercial Office:                  209-725-7253

The Spring buying season is just around the corner. Inventory is down 41% from Feb. 2016 to Feb. 2017, down 1.8% from 3.0% of Inventory.

Homes are selling fast, average days on the market are down 12% from 65 days to 57 days from Feb. 2015 to Feb. 2017, the Median sale price is up 32%! $169,900 to $225,000.

The Spring Buying season is the best time of the year to place your home on the market. Demand is very strong, interest rates are still very low and most homeowners are pleasantly surprised when we evaluate their homes and let them know what their homes are worth.

Call any of our professional agents with your home buying needs, or our Property Management with your Rental needs, we also have a Commercial office that can help you with a commercial lease or purchase.

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

Gonella Realty also offers Property Management services.  If you are interested in our company managing your property, please contact Property Manager Kathy Jameson, or Assistant Property Manager Tina Winek.

Email: kathy@gonellarentals.com

Tina@gonellarentals.com

Phone:                                         209-383-6277

For any Sales or Leases of Commercial Properties:

Commercial Office:                  209-725-7253

Hard to believe but home appreciation continues to rise at a very rapid pace in the Merced and Atwater areas.  Even though the pace slowed a little bit we are up 12% from last year.   We believe the appreciation of homes will continue.

2017 Inventory remains very tight at 2.4 months compared to last December at 5.1 months.  We believe this trend will continue.

You may be surprised by the value of your property.  Contact one of our professionally trained officers with any of your property needs.

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

Gonella Realty also offers Property Management services.  If you are interested in our company managing your property, please contact Property Manager Kathy Jameson, or Assistant Property Manager Tina Winek.

Email: kathy@gonellarentals.com

Tina@gonellarentals.com

Phone:                                         209-383-6277

For any Sales or Leases of Commercial Properties:

Commercial Office:                  209-725-7253

Prices continue to appreciate at a steady rate, from October 2014 to October 2016, home values appreciated 24% or 1% per month, that is an incredible rate of return. Part of the reason for this dramatic increase is the lack of inventory. From October 2014 to October 2016 the inventory of available homes for sale, decreased by 50%.

Days on Market have Decreased  Substantially

The time of a property being on the market has decreased 40% from October 2014 to October 2016 from 75 days to 43 days on the market.

With this rapid appreciation in value, you may be Surprised as to the value of your property in today’s market.

If you would like information on the current value of your property we have 2 Residential Sales Offices, located conveniently in Merced and Atwater.

Merced Sales Office:                209-383-2171

Atwater Sales Office:               209-358-6429 

Gonella Realty also offers Property Management services.  If you are interested in our company managing your property, please contact Property Manager Kathy Jameson, or Assistant Property Manager Tina Winek.

Email: kathy@gonellarentals.com

Tina@gonellarentals.com

Phone:                                         209-383-6277

For any Sales or Leases of Commercial Properties:

Commercial Office:                  209-725-7253

We are definitely in a seller’s market and sellers are receiving multiple offers and some offers are over the asking price. The available inventory is down to 1.6 months, a decline in inventory from Sept 2014 of 58%.

With interest rates at historic lows, there is a very strong demand for housing in the Merced and Atwater area.  The vacancy rate for rental homes and apartments is less than 2 percent.

In conclusion demand is very strong, for both Single Family Residences, to purchase and properties to rent.

If you are interested in buying or selling, please contact or Merced Office (209) 383-2171, Atwater Office (209) 358-6429, Commercial Office (209) 725-7253, or looking for a rental property or property management services, contact our Property Management department at (209) 383-6277.

Between Sept- 2014 and Sept- 2016 the median sold price is up 37%, from 155,500 to 213,300. From Sept – 2015 to Sept- 2016, the home appreciation rate slowed to 4%. We believe homes will continue to increase in value, however at a slower rate.

Between Aug-2014 and Aug-2016: The average months supply of inventory is down 51%. We see our biggest supply in the months of December, than it goes down from there.

Home values continue to appreciate at a slow rate. Between Aug-2015 to Aug-2016, the median price of for sale properties is up 9% and the median price of sold properties is up 13%. We are on a steady path upward.