Here is your luxury Market report for May 2016. This report includes homes sold for over $1,000,000 in 92064 from Nov. 2015 through April 2016.
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HOMES FOR SALE VS. SOLD ($1M+)
April 2016 is a Buyer’s market*
Home For Sale in April 2016: 57 units.
- Up 1.8% compared to the last month
Home Closed in April 2016: 7 units.
- Down 58.8% compared to the last month
Home Placed under Contract in April 2016: 17 units.
- Up 54.5% compared to the last month
*Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales
AVERAGE PRICE PER SQUARE FOOT ($1M+)
April 2016 Average Sold Price per Square Footage is Appreciating*
Average Sold Price per Square Footage in April 2016: $328
- Up 6.8% compared to the last month
*Based on 6 month trend – Appreciating/Depreciating/Neutral
DAYS ON MARKET & SOLD VS. LIST PRICE ($1M+)
April 2016 Average Days on Market trend Remains Steady*
Average Days on Market in April 2016: 21
- Down 70% compared to the last month
April 2016 Sold/Original List Price Ratio is Rising*
Sold/Original List Price % in April 2016: 96%
- Up 2.1% compared to the last month
*Based on 6 month trend – Rising/Falling/Remains Steady
AVERAGE PRICE SOLD VS. FOR SALE ($1M+)
April 2016 Average For Sale Price is Depreciating*
Average For Sale Price (in thousand) in April 2016: $2352
- Down 2.6% compared to the last month
April 2016 Average Sold Price is Depreciating*
Average Sold Price (in thousand) in April 2016: $1359
- Down 15% compared to the last month
*Based on 6 month trend – Appreciating/Depreciating/Neutral
MONTHS OF INVENTORY ($1M+)
April 2016 is a Buyer’s market*
Months of Inventory based on Closed Sales in April 2016: 8.1
- Up 145.7% compared to the last month
*Buyer’s market: more than 6 months of inventory based on closed sales
Seller’s market: less than 3 months of inventory based on closed sales
Neutral market: 3 – 6 months of inventory based on closed sales