Property values have changed less than 1% over the past year, indicating a stable property values trend. There are currently 3 months of housing inventory indicating balanced demand/supply trend. Over the past 3 months, properties sold after a median of 50 marketing days indicating a marketing time trend of under 3 months. The loca MLS indicates 65% of all sales over the past 3 months were bank sales or short sales. This ratio of bank sales and short sales has been steady over the past year and is at historically high levels that are putting downward pressure on property values.
Brian Ward Appraisal
www.brianward.com
(951) 345-6542
brian@brianward.com
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