Temecula, CA 92592 Housing Trends

In the Temecula, CA zip code of 92592, and when considering the median $/Sqft, property values have fluctuated over the past year but are steady overall and indicate a stabile property values trend.  There have been less than 10 months of housing inventory each month over the past year, indicating a stable demand/supply trend.   The median marketing time for sales has been less than 90 days each month over the past year indicating a marketing time trend of less than 90 days.

Statistics indicate historically high foreclosure activity which suggests that future declines from bank sales and other potentially distressed selling activity, such as short sales, are possible. They also suggest that banks may be withholding inventory from the market, presumably to promote property value stabilization and increases, and that property value statistics may not reflect natural market forces and may not be reliable. A continuing supply of potential foreclosures indicates that the risk of property value declines will continue into the near future.

Sales & Foreclosure / Short Sale Related Statistics:
(all residential properties)

Past 30 Days (MLS)
* 144 Total Sales
* 23% of all sales were bank sales
* 38% of all sales were short sales

1 Year Ago (MLS)
* 132 Total Sales
* 48% of all sales were bank sales
* 24% of all sales were short sales

Currently:
* 363 Bank owned homes (CoreLogic)
* 556 Properties in foreclosure (CoreLogic)
* 359 Properties with mortgages 60+ days late but not in foreclosure (CoreLogic)
* 98 Bank owned property listings in MLS (active, in escrow, and awaiting bank approval)
* 73% of bank owned homes not actively listed in the MLS
* 8 Months of current and potential bank sale and short sale inventory from bank owned properties, properties in foreclosure, and properties with mortgages 60+ days late and based on last month’s bank and short sales in the local MLS.

Brian Ward
brianwardappraisal@gmail.com

 

La Jolla, CA Condominium Housing Trends

La Jolla, CA Condominium Housing Trends

as of 09/02/2010

Filtered out are properties with dramatic views and properties over 2,200 Sqft.

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La Quinta, CA Condominium and Foreclosure Statistics

La Quinta, CA condominium property values have fluctuated throughout the past year but have declined 4.8% overall indicating a declining property values trend.  There are currently 37 months of condominium inventory based on last month's total of 5 sales indicating a severely over supplied trend.  The median marketing time over the past month was 135 days indicating a marketing time trend of 3-6 months.

Statistics indicate historically high foreclosure activity which suggests that future declines from bank sales and other potentially distressed selling activity, such as short sales, are possible. They also suggest that banks may be withholding inventory from the market, presumably to promote property value stabilization and increases, and that property value statistics may not reflect natural market forces and may not be reliable. A continuing supply of potential foreclosures indicates that the risk of property value declines will continue into the near future.

Sales & Foreclosure / Short Sale Related Statistics:

(all residential properties, not just condominiums)

Past 30 Days (MLS)

* 83 Total Sales

* 31% of all sales were bank sales

* 35% of all sales were short sales

1 Year Ago (MLS)

* 111 Total Sales

* 40% of all sales were bank sales

* 17% of all sales were short sales

Currently:

* 274 Bank owned homes (CoreLogic)

* 327 Properties in foreclosure (CoreLogic)

* 273 Properties with mortgages 60+ days late but not in foreclosure (CoreLogic)

* 85 Bank owned property listings in MLS (active, in escrow, and awaiting bank approval)

* 69% of bank owned homes not actively listed in the MLS

* 16 Months of current and potential bank sale and short sale inventory from bank owned properties, properties in foreclosure, and properties with mortgages 60+ days late and based on last month’s sales in the local MLS.

Brian Ward

brianwardappraisal@gmail.com

Rancho Mirage, CA Housing Statistics

When comparing the most recent 6 month period with the same period last year the median $/Sqft of properties decreased 8.3% but when comparing the most recent 6 month period with the previous 6 month period the median $/Sqft increased 6.6%.  The market area is subject to seasonal purchasing trends with summer historically being the least desirable buying period due to high desert temperatures.  Because of this, it is my opinion the the recent change in property values indicates a market stabilization.  There are currently 11.3 months of housing inventory indicating a balanced supply and demand trend. Over the past 3 months, properties sold after an average cumulative marketing period of 184 days and a median of 126 days, indicating a borderline marketing time trend of 3-6 months with over 6 months.

Statistics indicate historically high foreclosure activity which suggests that future declines from bank sales and other potentially distressed selling activity, such as short sales, are possible. They also suggest that banks may be withholding inventory from the market, presumably to promote property value stabilization and increases, and that property value statistics may not reflect natural market forces and may not be reliable. A continuing supply of potential foreclosures indicates that the risk of property value declines will continue into the near future.

Sales & Foreclosure / Short Sale Related Statistics:

Past 30 Days (MLS)

* 43 Total Sales

* 14% of all sales were bank sales

* 12% of all sales were short sales

1 Year Ago (MLS)

* 54 Total Sales

* 13% of all sales were bank sales

* 6% of all sales were short sales

Currently:

* 88 Bank owned homes (CoreLogic)

* 334 Properties in foreclosure (CoreLogic)

* 85 Properties with mortgages 60+ days late but not in foreclosure (CoreLogic)

* 48 Bank owned property listings in MLS (active, in escrow, and awaiting bank approval)

* 45% of bank owned homes not actively listed in the MLS

* 46 Months of current and potential bank sale and short sale inventory from bank owned properties, properties in foreclosure, and properties with mortgages 60+ days late and based on last month’s sales in the local MLS.

Brian Ward brianwardappraisal@gmail.com http://ranchomirage.brianward.com/