August 2017 Eastvale Market Update


    Hey you guys. This is Nazar with Provident Real Estate Eastvale, California, the best city in the world. Here to give you another monthly update of what’s happened in the city of Eastvale in the month of July of 2017. So, this last month in July, there is a total of 62 houses that sold in the city of Eastvale. Of which the lowest priced home was a condo that sold for $320,000. The highest one was a single-family home that sold for $700,000 and Provident Real Estate had an opportunity to list and sell the house. The average list to sold price was 552. So, 552 is average list price, 552 was average sold price. Last month the average sold price was $564,000. So, it’s dipped a little bit when it comes to averages but that’s just because last month those two high-priced homes sold in the $800,000 price range off of Kendra Lane. Average days on market last month was 24 days you guys. So, it was a little shy of a month is how long it took for the average home to get a buyer and a contract, and then of course another 30 to 45-day escrow. What’s also interesting for you guys to see is that what we’re experiencing now, this is the third or fourth of August as I film this, is that things are starting to slow down a little bit, and I think that’s going to be the trend for the next three, four months going into the holiday season. I think you’re going to see people slowing down in how quickly a home sells in Eastvale, and that trend could possibly look into the first quarter of next year. What does this mean to you as a homeowner? If you’re looking to sell your house, you want to make sure that you properly price your home in such a way that it’s going to at least get the attention of those buyers to be excited about your house. Make sure you have your house staged properly. Make sure that your house looks good, smells good, feels good as people walk through the door and so that they can fall in love with your property. If there’s any improvements that you want to do to the property, please talk to a professional like myself that can give you that guidance you need to be able to not overspend on your property but spend just enough to be able to get those buyers excited about making an offer on your property and giving you top dollar for your home. Here’s some additional other stats you guys should be aware. So, those homeowners that decided to use other agents to list and sell their house, last month on the average sold for $544,000. So, they listed and sold their home for $544,000 as the average. Those homeowners that used our company to sell their home on the average sold for $611,000, and those homeowners that used other agencies to sell their property listed and sold their home for 25 days which isn’t too bad, right? Those homeowners that decided to use our company to sell their home sold it in 12 days. Now, 12 days is pretty aggressive to get a home sold. Obviously, there’s some pretty amazing strategy, but it’s not like we’re selling homes under market value. We’re actually getting top dollar for every single one of our clients that lists and sells homes with our company. Twenty percent of all the homes that sold last month was sold to cash buyers; 20%. That number however is between 15 to 25. As long as it doesn’t go much past down that. That still means the investor pool that’s out there still feels comfortable and is happy with purchasing properties in the Eastvale community which is a good thing. Even though I don’t necessarily like having investors to buy property in Eastvale because I live here and I want homeowners to have actual ownership in their homes that they life in; nevertheless, it’s still a good market that tells me that they’re excited about buying properties in our community here. Overall, what’s going on with Eastvale, right? If you were to think about the amazing amount of growth that we’ve had over the last four or five years, most everybody is out of water. As you can see, the short sales is only represented about 3% of all the homes that sold last month. That tells me that there’s still some healthy growing to do but I think we’re nearing the edge of homes probably depreciating in value. Now, I’m not saying the sky is going to fall. Anyone that knows me, feels this way, but I do feel that there might be a correction made. That correction might not come for another year and a half or it might come as early as next year. So, again, as a homeowner, if you’re looking to sell your property or looking to make a move in the next two or three years, you might reconsider making that move a little bit faster than you had anticipated. Now if you have no desire to make a move or you’re not planning on moving for the next five or 10 years, I think you’re completely fine just to stay where you’re at. But hopefully this information was found useful to you guys, and I think that the city has an amazing potential. I’ve loved being a part of it for the last 14 years. If you guys have any questions about real estate or thinking about possibly making a move or looking to buy, please give us a call. We’d love to be able to speak with you. The phone number is 951-444-8020. Have a good day and enjoy the rest of your day. Bye-bye.





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