Local Market Stats – November 2018 Figures
We see an interesting swing in the market when we review statistics from November, which point to the market evening out a bit. Compared to the previous November, homes stayed on the market longer this year, and fewer homes were sold. This was the trend for every city in our area.
While some fear this trend (remembering 2008), the experts predict – and the data supports – that we’re simply moving to a more balanced market. Our market has favored sellers in the past few years, which made home purchasing a difficult task for many. Homes will continue to appreciate, but at a more realistic level.
WHAT DOES THIS MEAN FOR YOU? Buyers, it’s a great time for you to get into a home! Sellers, your home needs to Stand Out! Make sure the agent you hire goes the extra mile in marketing your home – no more just sticking it on the MLS & putting a sign in the yard.
You can look at your city in the chart below to see just where you stand, whether buying or selling. Check the final column to see which market you’re in; buyer, seller, or balanced.
|A “balanced market” is a 6 month supply of homes. A “sellers’ market” is anything less than that, while a “buyers’ market” is any that has more than 6 month supply.|
|CITY||November Average Sales Price||Nov. Ave. Days on Market||Total # of Sales – November||Total # of Sales – YTD||Year over Year Appreciation||Active Listings||Months of Supply|
|Baldwin Park||$ 433,681||39||19||277||-0.2%||78||4.1|
|Diamond Bar||$ 767,141||51||40||510||6.2%||222||5.6|
|Hacienda Heights||$ 647,787||41||32||374||7.2%||118||3.7|
|La Puente||$ 468,209||32||42||512||9.4%||120||2.9|
|La Verne||$ 670,004||42||29||271||6.2%||55||1.9|
|Rancho Cucamonga||$ 562,762||38||98||1583||9.3%||432||4.4|
|Rowland Heights||$ 725,600||42||15||208||-1.1%||78||5.2|
|San Dimas||$ 605,062||41||24||304||3.2%||97||4.0|
|West Covina||$ 587,663||31||30||628||6.7%||166||5.5|
Let me know if you need more detailed information on your city or your home. I’m always happy to help.
Remember, when hiring an agent it’s always important to look for someone who understands the market and can answer your questions. You can call or text me at (626) 290-1250 or email me at MaryAnglin.Realtor@gmail.com.