What's Selling ?

December 9, 2010

Yesterday I posted the numbers for closed transactions as reported in the CRMLS for the months of November 2010-2003. Just out of curiosity, I went into the CRMLS and checked on the number of those transactions that were either short sales, in some stage of foreclosure or were bank-owned. Here for your information are the numbers for November 2010. The first number is the total closed sales reported for the month. The second number is the closed sales in the above three categories which I shall label "non-standard".

Banning/Beaumont.......Total/119......Non Standard/66.....Percentage/.555

Bloomington..................Total/30.......Non Standard/25......Percentage/.833

Colton.............................Total/45.......Non Standard/30......Percentage/.667

Fontana..........................Total/239.....Non Standard/170....Percentage/.711

Grand Terrace...............Total/4.........Non Standard/3........Percentage/.75

Highland........................Total/44.......Non Standard/24.....Percentage/,545

Loma Linda...................Total/12........Non Standard/8.......Percentage/.667

Mentone........................Total/7..........Non Standard/3.......Percentage/.429

Moreno Valley..............Total/221.......Non Standard/152...Percentage/.688

Redlands.......................Total/58........Non Standard/27.....Percentage/.466

Rialto............................Total/104......Non Standard/64.....Percentage/.615

Riverside......................Total/349......Non Standard/218....Percentage/.625

San Bernardino...........Total/185......Non Standard/128.....Percentage/.692

Yucaipa/Calimesa.......Total/50.......Non Standard/39......Percentage/.780

It would seem that our Inland Empire real estate market is being shaped by these distressed sales. For the seller who is not distressed, paying close attention to the properties that are selling is important in determining a listing price.