Chino Real Estate Snapshot for August 2010

Follow me
By
Real Estate Agent - Keller Williams Vision - 01338174
by Leticia & Associates These days it seems that news and predictions about the real estate market are everywhere. Knowing what is happening in your area can help both buyers and sellers understand and gain clarity of the real estate market and how it relates to them. Below is a real estate snapshot of the area for the Chino Hills area for August, 2010. Homes Closed: 61 homes sold in Chino Hills in August 2010 (63 in July 2010). The prices ranged from $195,000 to $1,600,000. Types of Transactions: •Standard = 35 •Short Sale= 19 •Bank Owned= 7 New Listings: 127 homes hit the market in Chino Hills in August 2010 (140 in July 2010). Total Active Listings: 324 homes currently for sale in Chino Hills, Ca as of 9/2/2010. If we continue to see an average of 60 homes closing every month there is enough inventory for 5.4 months if….. NO OTHER HOMES HIT THE MARKET. Price Reductions: 67% of homes sold (41) in August had price reductions 48% of homes sold (30) in July had price reductions We studied and researched and asked what does all this mean? ***Leticia & Associates Aha moment in the month of August 2010*** The market is changing again, homes are sitting on the market longer, a large number of homes are having price reductions in order for them to sell and inventory is increasing. Is this market shift the beginning of the next crash, the facts point in that direction with the exception of decreasing bank owned properties and the influx of Short Sales flooding our communities we are bound to see more buyers purchasing homes at even lower prices. What do you think the positive/ negative side effects of these changes will have on real estate market and Chino Hills Homes For Sale?
RECENT BLOG POSTS
Leticia Sotomayor has not posted any blogs at this time. Please check back again soon!
Rainer
3,645

LeticiaSotomayor

Helping buyers and sellers since 2002
Contact The Author
by Leticia & Associates These days it seems that news and predictions about the real estate market are everywhere. Knowing what is happening in your area can help both buyers and sellers understand and gain clarity of the real estate market and how it relates to them. Below is a real estate snapshot of the area for the Chino Hills area for August, 2010. Homes Closed: 61 homes sold in Chino Hills in August 2010 (63 in July 2010). The prices ranged from $195,000 to $1,600,000. Types of Transactions: •Standard = 35 •Short Sale= 19 •Bank Owned= 7 New Listings: 127 homes hit the market in Chino Hills in August 2010 (140 in July 2010). Total Active Listings: 324 homes currently for sale in Chino Hills, Ca as of 9/2/2010. If we continue to see an average of 60 homes closing every month there is enough inventory for 5.4 months if….. NO OTHER HOMES HIT THE MARKET. Price Reductions: 67% of homes sold (41) in August had price reductions 48% of homes sold (30) in July had price reductions We studied and researched and asked what does all this mean? ***Leticia & Associates Aha moment in the month of August 2010*** The market is changing again, homes are sitting on the market longer, a large number of homes are having price reductions in order for them to sell and inventory is increasing. Is this market shift the beginning of the next crash, the facts point in that direction with the exception of decreasing bank owned properties and the influx of Short Sales flooding our communities we are bound to see more buyers purchasing homes at even lower prices. What do you think the positive/ negative side effects of these changes will have on real estate market and Chino Hills Homes For Sale?