May 2017 real estate statistics
Thanks to the CALIFORNIA ASSOCIATION OF REALTORS, you can view a succinct pdf on the market statistics for last month.
In short, it only takes a listing an average of 22.4 days on the market before it’s in escrow, at the median price of $550,200. View more information below:
Interested in what the real estate market in California is doing?
The CALIFORNIA ASSOCIATION OF REALTORS recently released a few pieces of information on the California housing market. Take a look at their infographics and details here:
Housing affordability went up to 32% in the 1st Quarter of 2017. This means that 32% of California households can afford to buy a median-priced home.
The average price for homes that are selling in California is $478,000. And in April of this year, 401,000 houses sold.
Want to chat more about the California real estate, specific buying or selling needs, or other real estate questions? Give me a call!
John A Silva | (619) 890-3648
Current statistics of today’s homeowners
Current homeowners desire a different size home from those of different generations or various incomes.
Unless you plan on working part-time instead of fully retiring, you may need to cut down on your cost of living in order to live within your means.
Here are a few suggestions on how you can cut some costs:
1. Downsize your living space
Not only will downsizing your home most likely help with mortgage and utility costs, but it may also cut down on the required time spent maintaining the house and yard.
If downsizing sounds ideal, please give me a call to see how I can help sell and/or buy your next home! John A Silva – (619) 890-3648
2. Sell unnecessary vehicles
If both of you are retiring, then you may be able to get away with one vehicle for the both of you, cutting significant upkeep, registration and insurance costs.
3. Enroll in Medicare on time
Sign up within the initial seven-month time-frame allotted (three months before your 65th birthday until three months after). Otherwise, you’ll be paying more for those doctor visits.
Read all of Money.CNN.com’s suggestions here: “Slash your retirement costs with these 5 tips”.
California pending home sales dip slightly in January; Southern California market continues to outshine other regions
Following relatively strong closed escrow home sales over the past few months, California
pending home sales slipped negligibly from a year ago, which suggests a softening in the
housing market in the upcoming months, the CALIFORNIA ASSOCIATION OF REALTORS®
Making sense of the story
- Based on signed contracts, statewide pending home sales decreased in January on a
seasonally adjusted basis, with the Pending Home Sales Index (PHSI)* slipping 0.2
percent from 107.4 from January 2016 to 107.2 in January 2017. On a monthly basis,
California pending home sales were down 9.2 percent from the December index of 118.0.
- Only the Southern California region posted a year-over-year improvement in pending
sales last month, rising 8.1 percent from January 2016 and increasing 10.5 percent on a
monthly basis. Riverside County led the region in pending sales, posting a 16.2 percent
increase from a year ago. Los Angeles, Orange, and San Diego counties also posted
modest year-over-year increases of 7.1 percent, 8.0, and 4.0 percent, respectively. San
Bernardino County was the only area within Southern California that saw pending sales
lower on an annual basis by 2.8 percent.
- For the San Francisco Bay Area as a whole, tight housing supplies and low affordability
contributed to a fall in pending sales of 9.7 percent compared to January 2016. Only San
Mateo County posted an annual increase, rising 5.3 percent from January 2016 after
posting a significant double-digit annual decline (35.3 percent) in December. Pending
home sales decreased 21.2 percent in San Francisco County, 7.1 percent in Santa Clara
County, 24.9 percent in Monterey, and 4.8 percent in Santa Cruz County. A shortage of
homes on the market and poor affordability will likely persist throughout the year, and
impact Bay Area home sales.
- Pending sales in the Central Valley fell 7.9 percent from January 2016 and were up 2.2
percent from December. Within Central Valley, pending sales were down 14.6 percent in
Kern County and 11.8 percent in Sacramento compared with a year ago.
House projects have varying degrees of return; here are the top five projects with the greatest ROI, and the top five with the least ROI:
This infographic is from the CALIFORNIA ASSOCIATION OF REALTORS.
What’s in a color?
Paint isn’t just paint; it affects the mood and feeling of the home and room you’re painting. Deciding on the proper color is important, whether staging your home to sell or just giving it a refresher.
This infographic is from CAR.org.