October 2017 Eastvale Market update

    Hello Eastvale. This is Nazar again with Provident Real Estate here in the best city in the world. I’m here to give you another monthly update of what’s happened in the city of Eastvale in the month of September of 2017. So last month in September, a total of 59 houses sold. There was — the average list price was 543. Average sales price was 544. Average days on the market was 28 days which is pretty fast, right? Home hits the market and within 28 days, on the average, house is in escrow which is fantastic. Now last month — or in July, the average sale price was $552,000. In the month of August, the average sold price was $557,000. It went up a couple of thousand dollars and then it dipped down again to 544 this last month in September. So you can a little bit of a trend but nothing to get worried about. I think what happened is that there was just lower priced homes last month than there was a couple of months ago. Now the lowest priced home that sold in Eastville last month sold for $407,000. It was one of those commons in the community. The highest priced home sold for 722. It was listed for 788 and it sold for 722. That was the highest priced home sold last month. Now those are the basic stats. Now comparison to our stats versus our competition or everyone else. Average sold price was 541 for everyone else. Average sold price for us and those homeowners that trusted our company to sell the home sold them for 594. That’s almost a 9.7% increase on the average of what the other competitors sold for. Also, average days on market for everyone else was 30 days. The homeowners that used us to sell their home on the average last month sold their home in 5 days. That’s a record breaking 5 days, you guys, which is pretty remarkable based on how things are going right now. Some other interesting stats that you guys should know about. Right now we have an inventory supply of one and a half months. And what that means to you as a homeowner is that if no other houses come on the market, it would take about a month and half to sell every single house in the city of Eastville. Okay? And to give comparison. In the month — let’s say in 2008 and 2009 in Eastville there was a three year supply of inventory. That means that we had so many homes for sale during that time that if no other houses hit the market, it would have taken three years to sell all of those houses. Now three years all the way down to one and a half months. It’s pretty remarkable. We’re in a great seller’s market right now. Now that being said, the average list price of those 93 houses for sale is all the way up to $594,000. Now there’s a big discrepancy between $594,000 and the $544,000 is what actually ended up selling. So you guys can see that one, either homeowners are listing with agents that don’t know our market and either pricing their homes high or obviously there could be — there’s a portion of that where they’re just larger homes that are priced more and they’re just not selling because the average price point is a little bit less in our community. Now all that being said, I think the market’s still going up little by little, month after month, nothing drastic but you know as we continue to increase our numbers of our homes that sell and also the pricing of those homes that sell, we’re getting more closer and closer to the point of, you know, having homeowners in Eastvale not being able to — or buyers in Eastvale not being able to afford our market place here. So you know I think there’s going to be a little bit of push but I don’t think that’s going to happen till the next year or the year after that. So we’re still good. If you have any thoughts on selling, right now still a great time before the holiday season kicks in but even during the holidays, they’re still buyers looking out buying property. The good news is no matter when you’re thinking of selling or when you plan to make that move hiring the local expert, Provident Real Estate, to get your home sold will absolutely guarantee you get the best price possible for the sale of your home. Once again this is Nasir with Provident Real Estate. I hope you have a wonderful day. If you have any questions or would like a market update on your home, please give me a call at 951-444-8020. Have a good one.





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