Listings, Pendings, and Bsck-ups - June 1, 2012

June 4, 2012
Here is a snap shot of the real estate market in the East Valley of Inland Southern California. As is my custom, I check the number of active listings reported through the CRMLS for fourteen communities in the inland area. I also check the number of properties that have accepted offers either reported as a pending sale or a sale with contingencies that would look at back-up offers. I add the two accepted offer categories and divide by the number of active listings to establish a ratio between them. This ratio increased quite a bit in April and continues to increase in May. Well priced properties are receiving offers quickly and the active listings continue to decrease.
Judge for yourselves.
Banning/Beaumont............Active/280........Pending/257........Back-up/151........Ratio/1.457
Bloomington.....................Active/29..........Pending/60..........Back-up/24..........Ratio/2.897
Colton..............................Active/51..........Pending/81..........Back-up/35..........Ratio/2.275
Fontana............................Active/274........Pending/535........Back-up/263........Ratio/2.912
Grand Terrace..................Active/20..........Pending/27..........Back-up/19..........Ratio/2.300
Highland...........................Active/90..........Pending/126........Back-up/69..........Ratio/2.167
Loma Linda......................Active/19..........Pending/36..........Back-up/24..........Ratio/3.158
Mentone...........................Active/13..........Pending/20..........Back-up/11..........Ratio/2.385
Moreno Valley..................Active/294........Pending/517........Back-up/312........Ratio/2.820
Redlands...........................Active/156........Pending/128........Back-up/102........Ratio/1.474
Rialto................................Active/117........Pending/244........Back-up/96..........Ratio/2.906
Riverside...........................Active/583........Pending/863........Back-up/454........Ratio/2.260
San Bernardino.................Active/326.........Pending/426........Back-up/186........Ratio/1.877
Yucaipa/Calimesa.............Active/115.........Pending/134........Back-up/91..........Ratio/1.957
These numbers reflect a market that continues to be brisk. Next week I will post the numbers for the closed transactions, median prices and sales over $400,000. It will be interesting to track whether the increase in the number of properties that enter escrow is reflected in the number of properties that are successfully closing escrow.