Novemeber 2017 Market Update

    Hey, you guys. This is Nazar, with Provident Real Estate, here in Eastvale, California, the best city in the world. I’m here to give you another monthly update of what’s happening in the city of Eastvale in the month of November of 2017. Last month, in November, there was a total of 56 houses that sold. The highest priced home sold for $715,000. The lowest price home sold for $385,000. The average days on market was 31 days. The average sold price of a home was $568,000. 5-6-8, okay?

    Which is interesting, is that the month before in October, the average sold price was 562. The month before that was 544. The month before that in August was 557. We saw a little bit of a dip in there, but we seen the little averages going a little bit up each month. Nothing significant, but it’s still climbing little by little. That’s because our inventory is as low as it’s been. There’s only 76 houses actively available for sale right now in Eastvale.

    Now, what the caveat is, what’s interesting, is that the average list price of all those 76 houses, the average is $685,000. We have a couple big houses with big price tags on them. That’s what’s driving that price up a little bit, but on the average, they’re still about $50 to $60,000 above the average list prices above the average sold price in the city of Eastvale.

    That being said, I’m going to share some additional stats for you. What’s interesting is that a lot of people ask me, “Gosh Nazar, I don’t know if I want to list my house during the holiday season.” Or, “I don’t think homes sell during the winter months and therefore I’m going to wait until summer or spring of next year and then sell my house.” Well, here’s what I got to share with you. 56 houses sold last month. 56 houses sold the month before. The peak, if you want to call it, in July of 2017, there’s only 69 houses that sold. You guys, out of 15,500 houses in Eastvale, the variance between 56 to 69 is peanuts. It’s super small.

    You got to also realize that right now, we have only 76 houses for sale. There’s less than two months supply of inventory. Back then, even though the month’s supply of inventory was low as well, you had more houses for sale, so even though, maybe a hand full of homes more sell during the June/July months, you also have more homes that are competing against your house if you decide to sell your house.

    We don’t live in Minnesota here, we don’t live in an extreme cold environment or an extreme hot environment to where people stop buying during that window, right? Right now, we’re in December 1st, we have the next couple months, we have holidays coming up, but I tell you, there’s people that take time off, there’s people that need to take time off. People are excited about buying a house instead of buying other presents that are going to break. They want to be able to buy something that is of value, and people buy real estate. We sell homes all the way to the end of the year.

    If you guys are having any thoughts on selling, or even if you want to sell your house but you don’t want to put the home on the market, we will absolutely respect that, give us a call, and we’d love to be able to at least come and talk to you before the holidays are over, so that starting January 15th, or January 1st, whenever you are ready to put your home on the market, we’ll be able to hit the ground running and have a game plan put into place.

    Anyway, hopefully, you guys enjoyed this market update. If you have any questions, don’t hesitate to give me a call at 951-444-8020, and I once again wish you guys a happy holidays and a happy New Year, and hopefully, you guys have a wonderful time and be safe. Take care. Talk to you later.

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