Stockton, California Stats for July 2010

Summary:

• At the end of the month there were 2,313 homes for sale in Stockton including 635 pending sales. The net inventory available for sale was therefore 1,678 units.

• This is significant in relationship to average sales of 437 homes per month during the preceding 12 month period.

• Normal pricing rules related to supply and demand do not appear to apply in this lender controlled market.

• 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.

• Accounting and SEC rules that have permitted non recognition of loan losses will change.

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 near $144,000 and the $87 average sales price per square foot remains below the cost to build a home.

• 5,243 homes were sold in Stockton during the 12 month period (6,914 in the comparable period last year). Based on current inventory and sales levels it could take 5 months to sell a new listing here. 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!