The attached article offers great info on our national market, but here's what our central valley market is doing:
- Our closed transactions from August through October 2016 were up 10.3% from the same quarter in 2015, and "pended" sales are up just over 5% from the same month one year ago.
- Compared to one year ago, our average sales price is up nearly 6% (to $252,000) and the median price is up about 6.5%, to $230,000.
- Inventory remains tight in the Central Valley with about 2.5 months' supply.
- One driving factor of low inventory is investor purchases are being held instead of purchased, renovated and "flipped." Nearly 80% of investors are buying and holding.
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Patrick Conner
President
London Properties, Ltd.
