Eastvale Market Update, January 2018

    – Hey you guys. This is Nazar with Provident Real Estate, here in Eastvale, California.Hope you guys are having a wonderful day, and want to give you another monthly update of what’s happened in January of 2018, as far as home sales are concerned in our lovely city of Eastvale. There’s a total of 48 houses that sold all together. The average price of a home that sold last month, in January, was $558,000. The lowest price home sold for 500, the highest priced home that sold in all of last month was $720,000. ‘Kay? Now what’s interesting is that if you follow the trend from report to report, you’ll see that home prices have actually not made any big jump, pretty stayed, pretty stagnant for the last six months. ‘Kay? In August, the average price home that sold was 557. In September was 544. In October was 562. Then November it went to 568. December it went down to 561. And then now we’re down to 558. And then that average days on market has been pretty stagnant. It’s been, you know it’s gone up and down a little bit. For the average, last month was 39 days. Average days on market right now is 35 days. So we’re, we’re just kinda’ plateauing right now. ‘Kay? There’s no major movement going on in our community. There’s 74 homes for sale in Eastvale. The average price is $605,000. Now, 605,000 is the average list price. Average sold price last month was 558,000. So, there’s almost a 45 to, you know, $47,000 variance, between what the average list price is, versus the average sold price. Just taking that into consideration, now 12.5% of all the homes that sold last month were cash buyers. In October it was 14%. November was 10%. December was 18%. So, we’re still hovering lower. Now, we’re averaging almost 18 to 20% during the summer. Now we’ve gone down a little bit. I think it’s just because home prices have gone up, and that’s why the investors are looking at other more attractive areas to invest in, when it comes to long term and short term rental opportunities. What’s happening in Eastvale as a whole? I think again, as I said before, home prices are staying consistent. Homes are selling. We have super low inventory. Again, less than two months supply of inventory right now. And if you guys are making a move, or thinking about making a move in 2018, I think it’s a fantastic year to get your home sold. I don’t have a crystal ball. Some people say that the market’s gonna’ take, you know, a downwards trend in the next couple of years. It could happen as early as at the end of this year. Interest rates have gone up a quarter of a percent. They’re projected to go up another half, or even a full percent by the end of this year. So obviously, as interest rates go up, that’s gonna’ put pressure for the prices to either stay the same or go down. So, that could have a, you know, an impact on overall values of the home, as we going into end of 2018 into 2019. But all that being said, if you guys are looking to make a move, please give us a call. We’d love to be able to help you out. We are the local experts here. You can reach us at444-8020. Hope you’ve enjoyed this. Any questions, comment them below. Talk to you later. Bye-bye.

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