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by Southern Californias Top Producing Mother & Son Te

The picture we created above explains everything.  As we mentioned before, simple economics tells us that when Supply is low, demand is high.  And if demand is high, well when it comes to real estate we’re talking an increase in home purchase prices!   Only $1,205 Listings came Active on the market last month which the lowest amount of homes to come on the market in 4 years!  Look to your right and you’ll see that the same amount of homes is selling each month.  This means one thing; people are still buying homes at the same rate but the selection from which buyers have to choose from is limited.  This is why it’s a great time to sell your home!  With a limited supply and with not as many homes for buyers to choose from, your home is extremely desirable and is very well a hot commodity at this time.  Sellers will most definitely get the most bang for their buck if they sell now!

Now this is not to discourage buyer’s… Although interest rates have climbed up since the beginning of the year, overall compared to the boom of 2004-2007, they are WAY, WAY, WAY LOW!  Right now according to interest rates in California are around the 4.15% area.  If you’re a buyer, know this, property values are going to climb higher and interest rates are projected to increase by the end of the year.  So if you want to buy a home, waiting to make a move is not in your best interest.  Make a move now!  We can help you!   Call us 562-883-1003!

June Market report - Values slightly lower but an increase to come?

by Southern Californias Top Producing Mother & Son Te

We have a couple of interesting things to go over this month in relation to the current real estate market in Downey and the surrounding area.  It seems that values have decreased from the previous month.  In just 1 month the average sales price decreased by about 5%.  That’s a pretty big drop from one month to the next.  The good news is that if we just focus on progress this year although there was a bog decrease in value this month, we are still above average sales price of January.  Being that we are already about halfway through 2012 that’s not such a bad thing.  Let’s take a look at the graph we generated using data from the MLS.  The average sales price for residential homes in January was $290,139 whereas the average sales price for May, just last month was $292,430.  So technically speaking we are slightly under a 1% increase in home values from January 2012 to May 2012. 

Take a look at the graph again and you will see a red arrow that we’ve placed there at the start of this year to show the beginning of a potential uptrend.  Either way values don’t seem to be taking any drastic turns for the worse.  Summer is always a time where home sales pick up primarily because this is the time families like to make their moves to accommodate their kids schooling schedule, so we foresee a slight increase in property values soon.  Of course, time will tell.  Please call us to discuss your particular plans, whether your thinking of buying or selling.  We’d love to help you!       

Graph above is based on MLS data for the following cities: Bell, Bellflower, Bell Gardens, Cerritos, Downey, La Mirada, La Habra, Long Beach, Lakewood, Montebello, Norwalk, Paramount, Pico Rivera, Santa Fe Springs, South Gate, and Whittier

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Contact Information

Photo of The Mother & Son Team - Maria Palacios & Chris Gon Real Estate
The Mother & Son Team - Maria Palacios & Chris Gon
Berkshire Hathaway HomeServices, California Properties
16911 Bellflower Blvd
Bellflower CA 90706
(877) 883-1003
Fax: 562-381-9113