PMZBuzz

New Real Estate numbers available for North Modesto Area.
The number of Bank Owned Homes (REO) For Sale is once again lower than 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 June 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)

The For Sale vs. Sold Chart(report), assists determining the trend of market supply and demand using fifteen months of information. In addition, the report also displays the pending sales; providing a glimpse into REO sales for the following month.
For the month of May, the chart shows another drop in the number of REO homes for sale; whilst displaying the number of sold homes greater than the number of for sale homes. Four consecutive months now!

	1 year			15 months
	May 08	May 09	% Change	Mar 08	May 09	% Change
For Sale	100	31	-69%	107	31	-71%
Sold	53	39	-26.4%	37	39	5.4%
Pended	48	43	-10.4%	46	43	-6.5%

Next, the Average Price per square foot, helps establish the market price for the REO homes sold in the month. Note, the garage area is not included in the calculation. In May, the average continues to hold at $83 per square foot.

	1 year			15 months
	May 08	May 09	% Change	Mar 08	May 09	% Change
Avg. Sq. Ft. Price	117	83	-29.6%	127	83	-34.9%

Continuing, the chart sold vs. list price %. Out-of-town or relocation buyers can use 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 36 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 2% above the listing price.

	1 year			15 months
	May 08	May 09	% Change	Mar 08	May 09	% Change
Avg. Days on Market	45	36	-20%	68	36	-47.1%
Sold/List Diff. %	101	102	1%	96	102	6.2%

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 the chart below, one can see that the average sold price (REO), finished below the listed price at $119,000 for the month of May.

	1 year			15 months
	May 08	May 09	% Change	Mar 08	May 09	% Change
Avg. Active Price	178	137	-23%	190	137	-27.9%
Avg. Sold Price	172	119	-27.9%	180	119	-33.9%

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
	May 08	May 09	% Change	Mar 08	May 09	% Change
Months of Inventory (Closed Sales)	1.9	0.8	-57.9%	2.9	0.8	-72.4%

Always Grateful,

Daniel Valencia, Realtor
(209) 988-7055