Stockton, California Stats for December 2011

Summary:

• At the end of the month there were 1537 homes for sale in Stockton including 407 pending sales. The net inventory available for sale was 1,130 units.

• This is significant in relationship to average sales of 387 homes per month during the 12 month period.

• Normal pricing rules related to supply and demand do not work in this lender controlled market. Despite the scarcity of inventory, prices continue to decline. Consider:

  • 1,159 units of the total 1,537 unit inventory was controlled by lenders (75%);

  • 275 units of the total 410 units sold this month were controlled by lenders (67%).

• Mortgage loan delinquencies continue to rise; some lenders continue to pursue alternatives to foreclosure; some lenders who foreclose on properties are slow to put them on the market.

• There were 4,645 units sold in this 12 month period compared to 4,830 units in the prior year.

What these Numbers Mean to You:

• Homes may take longer to sell and sellers may have to be aggressive about their asking price.

• Average unit sales remain high. The delay on getting foreclosures to market has resulted in reduced inventory levels, and has bolstered prices somewhat.

• The average sales price is now $135,000 and the $80 average sales price per square foot remains below the cost to build a home.

• 4,645 homes were sold in Stockton during the 12 month period (4,830 in the comparable period last year). Based on current inventory and sales levels it could take 4 months to sell a new listing here - at depressed prices. If you have to sell your home - mark it down and SELL IT NOW!!!

• Aggressively priced, quality homes continue to sell. For buyers, significant purchase opportunities exist for good quality homes. Call us - we can help!

Does it really make a difference what company or agent you choose to sell your home? YES!