Listing, Pendings and Back-ups - August 1, 2012
August 1, 2012
This month it looks as though our real estate markets have made a change. The ratio of properties with accepted offers has grown and the number of still active listings has shrunk. This reflects the fact that new listings are quickly viewed by prospective purchasers and often receive multiple offers on the day they appear in the CRMLS.
Check the numbers for yourself.
Banning/Beaumont..........List/251......Pend/249......Back-up/135......Ratio/1.959
Bloomington...................List/18........Pend/57........Back-up/13........Ratio/3.8898
Colton............................List/37........Pend/91........Back-up/39........Ratio/3.514
Fontana..........................List/235......Pend/526......Back-up/244......Ratio/3.277
Grand Terrace................List/18........Pend/25........Back-up/13........Ratio/2.111
Highland.........................List/74........Pend/120......Back-up/120......Ratio/2.459
Loma Linda....................List/26........Pend/31........Back-up/22........Ratio/2.038
Mentone.........................List/3..........Pend/25........Back-up/11........Ratio/12.000
Moreno Valley................List/196......Pend/529......Back-up/287......Ratio/4.214
Redlands.........................List/139......Pend/122......Back-up/66........Ratio/1.353
Rialto..............................List/87........Pend/222......Back-up/90........Ratio/3.586
Riverside.........................List/465......Pend/842......Back-up/379......Ratio/2.626
San Bernardino...............List/285......Pend/422......Back-up/167......Ratio/2.067
Yucaipa/Calimesa...........List/107......Pend/132......Back-up/81........Ratio/1.991
The numbers come from the property information posted in the CRMLS. Just compare them to 2011 when Riverside had over 1000 active listings and most of the fourteen communities had at least twice as many active listings as they do in 2012. The highest ratio of accepted offers to listings was .828. When the media reports that the number of units sold has decreased, some of the decrease is the result of the low inventory. When a property receives ten offers in the first twenty-four hours that it is posted, you have nine potential sales that cannot take place.
This month it looks as though our real estate markets have made a change. The ratio of properties with accepted offers has grown and the number of still active listings has shrunk. This reflects the fact that new listings are quickly viewed by prospective purchasers and often receive multiple offers on the day they appear in the CRMLS.
Check the numbers for yourself.
Banning/Beaumont..........List/251......Pend/249......Back-up/135......Ratio/1.959
Bloomington...................List/18........Pend/57........Back-up/13........Ratio/3.8898
Colton............................List/37........Pend/91........Back-up/39........Ratio/3.514
Fontana..........................List/235......Pend/526......Back-up/244......Ratio/3.277
Grand Terrace................List/18........Pend/25........Back-up/13........Ratio/2.111
Highland.........................List/74........Pend/120......Back-up/120......Ratio/2.459
Loma Linda....................List/26........Pend/31........Back-up/22........Ratio/2.038
Mentone.........................List/3..........Pend/25........Back-up/11........Ratio/12.000
Moreno Valley................List/196......Pend/529......Back-up/287......Ratio/4.214
Redlands.........................List/139......Pend/122......Back-up/66........Ratio/1.353
Rialto..............................List/87........Pend/222......Back-up/90........Ratio/3.586
Riverside.........................List/465......Pend/842......Back-up/379......Ratio/2.626
San Bernardino...............List/285......Pend/422......Back-up/167......Ratio/2.067
Yucaipa/Calimesa...........List/107......Pend/132......Back-up/81........Ratio/1.991
The numbers come from the property information posted in the CRMLS. Just compare them to 2011 when Riverside had over 1000 active listings and most of the fourteen communities had at least twice as many active listings as they do in 2012. The highest ratio of accepted offers to listings was .828. When the media reports that the number of units sold has decreased, some of the decrease is the result of the low inventory. When a property receives ten offers in the first twenty-four hours that it is posted, you have nine potential sales that cannot take place.
posted by shirley harry at 9:02 AM
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