December 2017 Market Update

    Hey you guys, this is Nazar, with Provident Real Estate here in Eastvale, California, the best city in the world. I hope you guys had a wonderful holiday season and a wonderful New Year. I’m excited about 2018 and what we have in store. I wanted to share with you what happened in December of 2017 as far as home sales are concerned in Eastvale, and share some stats with you. So, in December, there’s a total of 51 houses that sold. The average sold price of those homes was $561,000. The average days on market for a home that sold last month was 36 days, which has climbed a little bit from the last month of 31 days. Now obviously, going into 2018, I see that now that the holiday season’s over, people are going start getting back into the groove of things and start buying property as well.

    You’ll see that number trend go up as far as how many homes sell each month. Remember, back in June or July, there’s only 70 or 69 homes that sold, so it’s not a huge variance. You’ll start seeing people start climbing up as far as demand is concerned for property. We’re already seeing that with our listings that we currently have on the market now as far as amount of showings that we’re getting; offers that we’re getting in. So things are right back up to how it was before the holiday season started. The average days on market right now in Eastvale is 56 days.

    The average list price of a home for sale is $588,000. There’s only 65 houses for sale, you guys. So, like we have less than a half percent of all the homes in Eastvale that are available are for sale. So we have a very short supply of inventory, so if you have any thoughts on selling, you’re waiting for the holidays to go over or to end, now is the time to get your home on the market. And obviously, the best company to use is Provident Real Estate. Eighteen percent of all the homes that sold last month were all-cash buyers. And most of those cash buyers are investors. So the rental market in Eastvale is strong, and it continues to increase in demand just because of affordability. We have a lot of buyers that are coming from Orange County, L.A. County, and San Bernardino County, like in Chino Hills and those types of areas, who are coming out and buying here just because it’s more affordable. And that’s gonna obviously increase our prices. As Orange County and L.A. County and San Bernardino County, anything west of Eastvale basically, continues to rise in price and just pushes those buyers that are unable to qualify for those homes there, or people who just want more space, they’re willing to do the commute, are gonna come out this way like most of the Eastvale community is, right? We all, most of us, commute to Orange County or L.A. County.

    That being said, I think we have a great real estate season coming up. The first quarter is gonna be a great indicator of what the summer and the fall’s gonna be like, but based on the stats and based on the things that I watch, I do see that things are gonna continue to go up. Nothing significant, I think, drastic like in 2012 to 13, but you’re gonna see some steady, nice healthy growth. So if you guys have any thoughts on selling, or looking at least to see if it makes sense for you financially, please give us a call at 951-444-8020. I’d love to answer any of your questions and set up a private consultation with you guys. I hope you’re having a wonderful day, and talk to you soon! Take care.

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