Quarterly Update
3rd Quarter 2021
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Local Market Report
- Total properties sold decreased 59% year over year. Total solds are 188 in 3Q2021, down from 426 in 3Q2020.
- Average Days on Market declined 30% year over year. The average days on market is 63 in 3Q2021, down from 91 in 3Q2020.
- Median sales price rose 25% year over year. The median sales price is $727,000 in 3Q2021, up from $580,000 in 3Q2020.
- Average Sales price rose 16% uear over year. The average sales price is $822,000 in 2Q2021, up from $708,000 in 3Q2020
- Absorption rate-97 Active single family and townhome properties/56 sold last month= 57%, or 1.73 months supply.
- An absorption rate above 20% has signaled a seller’s market and an absorption rate below 15% is an indicator of a buyer’s market.
- 1 to 3 Month Supply of Inventory =Strong Seller’s MarketHigh Rates of Appreciation and Regular Multiple Offer Situations4- 6 Months of Inventory = Balanced Market
- What does this all mean?
Buyer interest continues to outpace supply resulting in upward price movement across nearly all communities and price points. Only 1.73 months of inventory indicates a strong sellers market. We continue to set records each month as inventory remains low and buyer demand is very high. Median home prices are up 25%, average home prices are up 16%, and days on market are down 30%, creating a highly competitive market for buyers.If you would like specifics about the current value of your home or a potential purchase, please feel free to contact me any time!
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Local Market Report
- Total properties sold decreased 60% year over year. There are 59 solds in 3Q2021, down from 85 in 3Q2020.
- Average Days on Market declined 61.4% year over year. Average DOM is 59 in 3Q2021, down from 173 in 3Q2020.
- Median sales price rose 4.5% year over year. The median sales price is $585,000 in 3Q2021, up from $560,000 in 3Q2020
- Average Sales price rose 33.3% year over year. The average sales price is $1,200,000 in 3Q2021.
- What does all this mean?Buyer interest continues to outpace supply resulting in upward price movement across nearly all communities and price points. We continue to set records each month as inventory remains low and buyer demand is very high. Median home prices are up 4.5%, average home prices are up 33.3%, and days on market are down 61.4%, creating a highly competitive market for buyers.If you would like specifics about the current value of your home or a potential purchase, please feel free to contact me any time!
Looking for more?
See more current listings here.
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What’s your home worth?
Complimentary Home Valuation
When selling your home it is important to know how your home compares to similar homes on the market. With the proper research, you will learn how much your home is currently worth and possible improvements / changes you may want to make to get top dollar. Michelle can provide you with a detailed valuation of your home in today’s market.
Michelle Keck
California Broker | Nevada Salesperson
CA 01401898 | NV S.0063600
Corcoran Global Living
m +1 530.416.1955 I o +1 775.589.7100
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