I’m usually pretty bored when I have to start looking at charts & graphs, but I’ve noticed a slowing patch in the market; I’ve talked to agents in every state in the US, title reps, escrow companies, mortgage brokers, etc. While the hot hot flurry of buying a home has slowed down (is it because of the investors cooling off?) Prices have, however, risen in many of the upper end price ranges. WHUT???? And here’s the stats to prove it….
Just looking at a snap shot of Valencia homes (an area I know very well) this chart shows a One-year look with 1123 sales represented. I only used single family homes to get a more clear & concise look to see a larger range of prices. Here’s some interesting statistics:
- 1) The actual number of sales in most categories are down 2014 vs 2013
- 2) Sales in the $500,000 & up range INCREASED (Home prices have risen, obviously)
- 3) There was a decent amount of sales in the $900-1.5 mil market-and its pretty much stayed level.
I keep preaching to the buyers to get up off their duffs and get to buying-more inventory, better deals, and be creative with closing costs, contingent purchases, etc.
Sellers? Price accordingly. Price accordingly. and Price accordingly……
Finally, a quote from Warren Buffet-who seems to know EVERYTHING about when to buy, sell or hold…..he says:
“Look at market fluctuations as your friend rather than your enemy; profit from folly rather than participate in it.”
Tripp Jones Real Estate for Santa Clarita and San Fernando Valleys, Call 661-733-4555 or 818-527-6292