Tracking the $400,000+ Sales

January 28, 2010

I hope that the chart above is large enough to read. Even if you cannot, the three large spikes represent the number of closed residential transactions in Fontana, Moreno Valley and Riverside in the years 2005, 2006. If you could see it clearly, you would note the huge change upward between 2004 and 2005 and the equally huge change downward between 2006 and 2007.

In all three markets, the over $400,000 sales have not yet returned to the level of 2002. To me that is an encouraging sign and I shall eagerly watch to see improvements in this segment of our real estate sales market.

This chart reflects the number of transactions and not the prices of properties per se. With the financial melt down of 2008, the ability to obtain loans was definitely a factor in the reduction of high end sales. The stricter rules for buyer qualification has also had the effect of eliminating many potential buyers. To return to a more "normal" real estate sales market, we will need the jobs market to improve, and current homeowners to develop a bit of equity and prices to cease their downward trend.