Ontario, CA

Ontario zip code 91761 single-family home inventory showed continued signs of price stability in January 2010 with sales remaining consistent month-over-month and up compared to January 2009.

January 2010 Summary Results:

• Sold prices ranged from a low of $128,500 to a high of $350,000
• Price per square foot ranged from a low of $86.13 to a high of $212.96
• Days on market ranged from a low of 2 days to a high of 373 days
• Sale-price to list-price ratio ranged from a low of 0.94 to a high of 1.16
• Total sales were 36 single-family homes

Average selling price in January 2010 was $249,469. The lowest priced sale was located at 407 California Street which sold at $128,500 vs. the original listed price of $151,200 and was a bank-owned home listed by a Bullhead City based broker. The buyer paid cash for the property which apparently was a 'fixer'. The highest priced sale was located at 907 E Deerfield listed by a Claremont based agent which sold for $350,000 which was significantly above the listed price of $319,900 for this bank owned home. A Chino Hills based selling agent represented the buyer who financed with a conventional loan.

Average price per square foot was up from December's $159.48 per square foot to January's $166.15 per square foot. Year-over-year results are also up with average price-per-foot increasing from 2009's $163.19. The increase in average-per-square-foot is primarily due to the mix of homes currently selling as overall average price fell from $253,091 in December 2009 to January's $249,469. The lowest price-per-foot sold home was the bank owned property selling on California Street. The highest priced per square foot sale was a short sale at 2924 E Hazeltine which sold $31,000 above asking price to an FHA financed buyer.

Average days on market was 50 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: 26 days on market
• Standard Listings (investor owned): 24 days on market
• Standard Listings (investor & other): 26 days on market
• Standard Listings (not investor owned): 28 days on market
• Short-Sale Listings: 122 days on market

Average sale-price to list-price ratio was 1.03 which reflects the competitive nature of all listings in Ontario zip code 91761. Bank owned properties are continuing to generate significant demand and overbids:

• REO Listings: 1.03 sale-price to list-price ratio (range 0.97 to 1.09)
• Standard Listings: 1.01 sale-price to list-price ratio (range 0.96 to 1.05)
• Short-Sale Listings: 1.05 sale-price to list-price ratio (range 0.94 to 1.16)

Total sales of single-family homes in January 2010 were 36 homes versus 39 homes in December 2009 and 33 home sales in January 2009. Of the 36 homes sold in January 2010, 9 were short-sale, 16 were REO, 5 investor-owned standard sales and leaving 6 homes sold as standard listings.

2 Bedroom 1 Bath 752 Sq Ft/ 1Carport Space Detached

Bank Owned 2 Bedroom 1 Bath Condo. Granite Counters, Stainless steel appliances, master bedroom with large walk in closet. Near 10,15,91 Fwys.

SOLD AS IS CONDITION

Cross Streets: Vineyard and D St

Asking $115,000

www.remaxann.com for more info

#01451803

S.W.A.T. Finds Suspected Gang Member Dead

After a S.W.A.T. standoff that lasted several hours Monday afternoon with a suspected gang member wanted for parole violations, officers heard several shots being fired in the attic where the suspect had barricaded himself.  Some time later, the officers entered the attic to find the man deceased due to self-inflicted gunshot wounds.

Cameron Novak
Riverside County Short Sale Specialist
The Homefinding Center^TM
951-212-7479 Direct
 

A total of 38 Ontario homes were added to those listed for sale during the week ending Dec. 7, 2009, according to the Inland Multi-Regional Multiple Listing Service and 23 Ontario properties were reported as entering escrow during the week.

A total of 271 Ontario homes were listed for sale in the MLS on Dec. 7. Included are 171 single-family homes. There were 100 condominiums, townhomes and single-family homes in homeowner associations listed for sale in Ontario on Dec. 7; 104 homes were reported as vacant.

The MLS showed 52 foreclosed, or Real Estate Owned, homes listed in Ontario on Dec. 7; 152 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender.

There were 42 Ontario homes reported in the MLS as sold in the week ending Dec. 7, 2009.

Ila Josephs, a Realtor with Tarbell, Realtors, prepares weekly reports for her website, www.ilajosephs.com, surveying home market activity in the Inland Empire cities of Chino, Claremont, Fontana, La Verne, Montclair, Ontario, Pomona, Rancho Cucamonga, and Upland. For more information, call Ila at (909) 261-3541.

A total of 34 Ontario homes were added to those listed for sale during the week ending Nov. 15, 2009, according to the Inland Multi-Regional Multiple Listing Service and 36 Ontario properties were reported as entering escrow during the week.

A total of 244 Ontario homes were listed for sale in the MLS on Nov. 15. Included are 158 single-family homes. There were 86 condominiums, townhomes and single-family homes in homeowner associations listed for sale in Ontario on Nov. 15; 87 homes were reported as vacant.

The MLS showed 42 foreclosed, or Real Estate Owned, homes listed in Ontario on Nov. 15; 136 others were in pre-foreclosure - listed as "in foreclosure," Notice of Default or Short Pay/Subject to Lender.

There were nine Ontario homes reported in the MLS as sold in the week ending Nov. 15, 2009.

Ila Josephs, a Realtor with Tarbell, Realtors, prepares weekly reports for her website, www.ilajosephs.com, surveying home market activity in the Inland Empire cities of Chino, Claremont, Fontana, La Verne, Montclair, Ontario, Pomona, Rancho Cucamonga, and Upland. For more information, call Ila at (909) 261-3541.