Gonella Realty's Market Update

Home values have continued to excel in the past 12 months, showing an increase in median sales price of 24% from $109,000 in Dec ’11 to $135,000 in Dec ’12.

Inventory continues to remain at historic lows with 1.8 months in Dec ’12. An inventory of 6 months is considered balanced while 12 months is an oversupply.

The real estate market as a whole is continuing to heal. More than half of all sales are now standard owners; short sales make up approximately a third; with bank owned/REOs accounting for less than ten percent! This is a drastic drop from 4 years ago when foreclosures made up 75% of all listings.

In summary, now is an excellent time to place your home on the market. Call us today to find out the value of your property in today’s appreciating housing market.

Merced Sales Office:                                                209-383-2171
Atwater Sales Office:                                               209-358-6429

This entry was posted on February 4, 2013 at 9:16 am and is filed under Uncategorized. You can subscribe via RSS 2.0 feed to this post's comments. You can comment below, or link to this permanent URL from your own site.