Gonella Realty's Market Update

We believe that in 2010 the real estate market finally found the bottom.  In January 2010, the monthly median sales price was $96,670-a decline of 71.9% from the peak in October 2005. However, since that date, values have increased to $109,000 as of February 2011, a rise of 11% from the bottom.

This decline in values has a benefit:  Merced is one of the most affordable areas in the country! The Housing Affordability Chart shows that in the 3^rd Quarter of 2010, Merced was more affordable than Sacramento, Fresno, the State of California, and, in fact, the entire United States.

With interest rates remaining at historic lows and the fact that this area is more affordable than ever, it is both a lucrative time to sell and an opportunistic time to buy.

This entry was posted on April 4, 2011 at 2:07 pm and is filed under Merced County Real Estate, Real Estate Market Update. You can subscribe via RSS 2.0 feed to this post's comments.

Tags: 2010 in Real Estate, buyers market, Central San Joaquin Valley, City of Merced, gonella realty market update, home sales, housing inventory, interest rates, Market Update, Real Estate, sellers market