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Posted by: thepinetree on 06/27/2007 03:19 PM Bookmark and Share
Updated by: Kim_Hamilton on 06/27/2007 08:07 PM
Expires: 01/01/2012 12:00 AM


State Of The Market Today~By Jo Ann Stump

Realtors, sellers, and buyers, I believe, have finally conceded. The real estate market has changed, and the way we behave has changed. Realtors are working harder, sellers are being more patient, and buyers are being more diligent....

As Realtors we are working longer with prospective buyers. The demand for homes is still there. There is no doubt we are still selling homes and land. But, no buyer wants to pay too much for their investment. Most buyers are comparing features and prices very carefully to make sure that they are making a good decision. There are many homes on the market to compare. If we used to show a client 6 homes that met their specifications, now we have 20 to show them. In general, most buyers are not purchasing a home on their first time out, but taking the time to view homes on multiple occasions.

As of June 18, 2007, there are 1181 currently listed homes and 140 homes pending sale through out the county. There were 211 currently listed homes from Avery to Bear Valley, 114 homes in the Murphys area, 79 homes in and surrounding Angels Camp, 65 homes from Mountain Ranch to Rail Road Flat, 45 homes in San Andreas, 14 homes on the market in Mokelumne Hill, and a whopping 312 homes in the Valley Springs and Wallace areas.

In the Arnold area the MEDIAN sales price and MEDIAN days on market in ’06 were $425,000 and 100 days and in ’07 the comparative numbers are $387,500 and 139 days; this is a 9% decrease in price and a 39% increase in market time. Median is half of the units sold above and half sold below – it is not the average price.

Jo Ann Stump can be reached at (888) 288-8915. Prudential California Realty, Arnold




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