Below I have posted for you statistical data on the market activity for November.
This is the Supply and Demand Chart. I have broken them down for each Corona zip code.
There are 3 pieces of information in the Supply & Demand chart. The first is the supply of homes for sale over a fifteen-month period. This is shown with light green bars. The second is the number of homes sold in dark green bars. The third is the number of pended sales, shown as a red line. These charts allow you to compare the most recent 3-months activity with the same period one-year ago.
You can see we are in a buyers market. Buyers at this time have a lot of inventory to choose from and sellers need to be priced very competitively to capture those buyers.
When I use this data for my listing clients I break it down first by zip code, then narrow it to 50 square feet above and below he subject property. That drills down to the specifics. I also like to use this as a tool to watch where the market is headed. When I'm working with buyers in addition to using comps I can use this to see where the buyers trends are going.
Stay turned, tomorrow we'll talk about average price per square foot in each of the zip codes.
1 comment:
It is very important to keep track on real estate market prices because it gets ups and downs very quickly. People can get prices from many sources.
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