 |
|
|
Eastvale single-family home inventory showed continued signs of price stability in January 2010 however sales volumes are down both month-over-month as well as year-over-year.
January 2010 Summary Results:
- Sold prices ranged from a low of $295,000 to a high of $543,000
- Price per square foot ranged from a low of $85.33 to a high of $150.47
- Days on market ranged from a low of 0 days to a high of 396 days
- Sale-price to list-price ratio ranged from a low of 0.97 to a high of 1.16
- Total sales were 57 single-family homes
Average selling price in January 2010 was $382,986. The lowest priced sale was located at 6804 Wells Spring St which sold at $295,000 vs. listed price of $299,900 and was a bank-owned home listed by an Downey based agent. The selling agent was not disclosed however the sale was financed with conventional financing. The highest priced sale was located at 13777 Star Ruby which sold for $543,000 vs. listed price of $540,000 and was an owner-occupied standard sale listed by a Claremont based agent. The selling agent was an Eastvale based agent and the sale was a cash sale.
Average price per square foot is down slightly from December's $119.47 per square foot to January's $117.96 per square foot. Year-over-year results are essentially flat with average price-per-foot increasing from 2009 to 2010 by just $0.29 per square foot. The lowest price-per-foot sold home was a short-sale transaction at 6928 Moon River Street selling at $320,000 for a 3750 square foot home and was on the market for 175 days. The highest price-per-foot home was a newly constructed 2657 square foot home at 13536 Plummer Creek selling at $399,790.
Average days on market was 63 days but a deeper look into the data is required to understand what is actually happening as short-sale listings distort the data. Here is the break-down of days on market when looking at sale type:
- REO Listings: 22 days on market
- Investor Owned Standard Listings: 36 days on market
- Overall Standard Listings (investor & other): 42 days on market
- Other Owned Standard Listings: 48 days on market
- Short-Sale Listings: 125 days on market
Average sale-price to list-price ratio was 1.03 which reflects the competitive nature of the REO listings in Eastvale. Breaking out the sale-price to list-price ratio by sale type it is evident that banks generally continue to list lower than market:
- REO Listings: 1.05 sale-price to list-price ratio (range 0.98 to 1.16)
- Investor Owned Standard Listings: 1.03 sale-price to list-price ratio (range 1.00 to 1.16)
- Overall Standard Listings: 1.02 sale-price to list-price ratio (range 0.97 to 1.16)
- Short-Sale Listings: 1.02 sale-price to list-price ratio (range 0.98 to 1.14)
- Other Owned Standard Listings: 1.01 sale-price to list-price ratio (range 0.97 to 1.11)
Total sales of single-family homes in January 2010 were 57 homes versus 99 homes in December 2009 and 71 home sales in January 2009. Of the 57 homes sold in January 2010, 19 were short-sale, 18 were REO, 10 were investor owned standard listings leaving just 10 homes sold as other standard listings.
