As we move into the spring buying season, inventory has hit the lowest level in 12 months.
In the last 24 months the median list price has increased by 50% while the median sales price rose only 24%.
This points out that there is a wide gap between what sellers are asking for, and what buyers are paying.
This is also reflected in the large number of homes that require a price reduction before they sell, as well as in the length of time properties are remaining on the market.
Days on market showed an increase of 40% from 38 days in 2014 to 53 days in 2016.
Best advice we can give sellers:
Make sure your home is priced correctly from the beginning.
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 Hoffman, or Assistant Property Manager Tina Winek.
Email: KHoffman@gonellarentals.com;
Phone: 209-383-6277
For any Sales or Leases of Commercial Properties:
Commercial Office: 209-725-7253
Gonella Realty's Market Update 