April 2009 Sold Vs. Pending

Number of For sale homes is below the Sold and Pending Sales, according to the numbers provided by Trendgraphix.

The charts and tables provided by Trendgraphix, inc were compiled using the following criteria:
Published May 2009
Location : Modesto S of Briggsmore E/McHenry (20104)
Number of Homes For Sale vs. Sold
Price Range: $0 – No Limit
SQFT Range: 0 – No Limit
Single Family Homes – Bank Owned Homes (REO)

It is true! According the local Metrolist, the number of listed homes for sale (REO properties), was less than the number of sold homes and pending sales.
As seen below, the number of for sale homes decreased to 38 homes compared to 53 the month of March and 65 homes in the month of February; a steady declined in REO homes for sale, three months in a row!

	1 year			15 months
	Apr 08	Apr 09	% Change	Feb 08	Apr 09	% Change
For Sale	107	38	-64.5%	104	38	-63.5%
Sold	40	50	25%	15	50	233.3%
Pended	58	46	-20.7%	31	46	48.4%

Next, the average price per square foot; the chart represents the price range of the homes that closed escrow for the month of April, indicating in this case $83 per square foot, a slight decrease from $86 in the month of March.

	1 year			15 months
	Apr 08	Apr 09	% Change	Feb 08	Apr 09	% Change
Avg. Sq. Ft. Price	120	83	-30.4%	132	83	-36.7%

Continuing, the chart sold vs. list price %; out-of-town or relocation buyers can assist them in making their investment decision, the percentage element helps identify where the market activity is the strongest.

In our case, of the homes that sold (REO); the chart shows 38 days is the average number of days the sold homes were on the market for. In addition, it continues by displaying that the accepted offers were averaging about 0% above the listing price.

	1 year			15 months
	Apr 08	Apr 09	% Change	Feb 08	Apr 09	% Change
Avg. Days on Market	36	38	5.6%	40	38	-5%
Sold/List Diff. %	97	100	3.1%	97	100	3.1%

The average price (in $,000), helps determine whether the market is a buyer or seller market.

Generally, if the listing price and the average sold price are the closest, the area has a healthiest market. If the average sold price is below the average listing price, and falling, the market is moving toward a buyers’ market. If the average sold price trend is above the listing price, the market is moving toward a sellers’ market.

From our chart, we can see that the average sold price (REO), finished above the listed price at $126,000 for the month of April.

	1 year			15 months
	Apr 08	Apr 09	% Change	Feb 08	Apr 09	% Change
Avg. Active Price	183	112	-38.8%	194	112	-42.3%
Avg. Sold Price	177	126	-42.3%	181	126	-30.4%

Months of inventory, also helps determine whether we are moving into a buyer or seller market. Six months of inventory is typically considered as the mid-point, more than six months of inventory indicates a buyer’s market.

So, what is the chart telling us? Well here it is, if we had no more bank homes added to the market, we would be out of homes in less than a month.

	1 year			15 months
	Apr 08	Apr 09	% Change	Feb 08	Apr 09	% Change
Months of Inventory (Closed Sales)	2.7	0.8	-70.4%	6.9	0.8	-88.4%

TO VIEW OTHER MONTHS

Always Grateful,

Daniel Valencia, Realtor
(209) 988-7055