Gonella Realty's Market Update

From August 2009 to August 2010, the Median For Sale Price in the Merced Area increased from $105,000 to $122,500. This is an increase of 17% year over year.
The available inventory continues to remain very slim this year over last year–decreasing 14% from 904 properties for sale in August 2009 to 776 properties for sale in August 2010. The time a property remains on the market until it is sold has increased slightly from the average of 46 days in August 2009 to 53 days in August 2010.
Interest rates continue to stay below 5%, in some cases at or near 4.5%, which is at or near historic lows.
Overall, with prices still very low, and interest rates at or near historic lows, this remains an excellent time to buy.

This entry was posted on September 23, 2010 at 2:41 pm and is filed under Merced County Real Estate, Real Estate Market Update, Uncategorized. You can subscribe via RSS 2.0 feed to this post's comments.

Tags: Central San Joaquin Valley, Coldwell Banker Gonella Realty, interest rates, Market Update, Merced County, prices of homes, Real Trends