When comparing the most recent 3 month period with the same period last year the average $/Sqft of properties in San Jacinto increased 5.9% from $63.27 to $67.24 which indicates an increasing property values trend. However, between the two most recent 3 month periods the the $/Sqft of properties changed less than than 0.4% indicating a stable property values trend. There are currently 7.5 months of housing inventory indicating a balanced supply and demand trend. Over the past 3 months, properties sold after an average marketing period of 59 days, indicating a marketing time trend of 0-3 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)
* 61 Total Sales
* 56% of all sales were bank sales
* 21% of all sales were short sales
* 136 Total number of new listings
* 35% of new listings were bank listings
* 26% of new listings were short sale listings
1 Year Ago (MLS)
* 105 Total Sales
* 93% of all sales were bank sales
* 8% of all sales were short sales
* 124 Total number of new listings
* 63% of new listings were bank listings
* 24% of new listings were short sale listings
* 419 Bank owned homes (CoreLogic)
* 441 Properties in foreclosure (CoreLogic)
* 253 Properties with mortgages 60+ days late but not in foreclosure (CoreLogic)
* 126 Bank listings in MLS (active, in escrow, and awaiting bank approval)
* 70% of bank owned homes not actively listed in the MLS
* 24 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.