Sales Statistics for the Month of May, 2008

June 4, 2008
I am happy to say that the number of transactions reported as closed sales in the IMRMLS increased in most areas during the month of May. We are still significantly off the pace of closed sales from the peak years or 2004, 2005 and 2006, but an increase in volume may be a sign that buyers are beginning to find value in the current market place. Here are the last 5 years of May closings.
Banning/Beaumont...2008/78.....2007/53.....2006/89.....2005/101.....2004/92
Bloomington...............2008/10.....2007/8......2006/27......2005/19.......2004/16
Colton..........................2008/19.....2007/23....2006/36......2005/43.......2004/31
Fontana.......................2008/168...2007/87....2006/213....2005/254.....2004/203
Grand Terrace............2008/9.......2007/7......2006/11.......2005/9.........2004/5
Highland.....................2008/39.....2007/38....2006/91......2005/87.......2004/56
Loma Linda................2008/18......2007/8......2006/20.....2005/20.......2004/22
Mentone.....................2008/3........2007/8......2006/7........2005/11........2004/8
Moreno Valley...........2008/213....2007/79....2006/268....2005/264....2004/237 Redlands....................2008/36......2007/46....2006/75......2005/79.......2004/83
Rialto.........................2008/69......2007/40....2006/102...2005/116.....2004/100
Riverside...................2008/278....2007/193...2006/354...2005/464....2004/364
San Bernardino........2008/146.....2007/90....2006/242...2005/231....2004/212
Yucaipa/Calimesa....2008/47......2007/42....2006/61......2005/76......2004/70

One of the telling bits of information that the IMRMLS now includes information regarding whether a property was Bank owned or a short sale. In 9 of the above cities, approximately 50% of the reported sales were either bank owned or short sales.