The Over $400,000 Market

December 12, 2012
In the fourteen communities that I track, the number of properties that have sold with a $400,000 or more price continues to be a relatively small portion of overall sales numbers. It seems that their is more activity, but as yet the numbers for closed transactions continue to be low. Here are the numbers for the first eleven months of 2012.
Banning/Beaumont.............11/1.......10/2.......09/1.......08/0.......07/0.......06/0.......05/0.......04/0
.........................................03/1.......02/0.......01/1
Bloomington......................11/0.......10/0.......09/0.......08/0.......07/0.......06/0.......05/0.......04/0
.........................................03/0.......02/0.......01/0
Colton..............................11/0.......10/0.......09/0.......08/0.......07/0.......06/1.......05/0.......04/0
........................................03/0.......02/0.......01/0
Fontana............................11/3.......10/3.......09/4.......08/1.......07/0.......06/1.......05/0.......04/0
........................................03/1.......02/3.......01/1
Grand Terrace..................11/0.......10/0.......09/0.......08/0.......07/0.......06/0.......05/0.......04/0
........................................03/0.......02/0.......01/0
Highland...........................11/3.......10/2.......09/0.......08/3.......07/1.......06/4.......05/3.......04/2
........................................03/0.......02/1.......01/1
Loma Linda......................11/1.......10/0.......09/0.......08/2.......07/2.......06/0.......05/1.......04/1
.........................................03/0.......02/0.......01/1
Mentone...........................11/0.......10/0.......09/0.......08/0.......07/0.......06/0.......05/0.......04/0
.........................................03/0.......02/0.......01/0
Moreno Valley..................11/0.......10/0.......09/0.......08/1.......07/0.......06/0.......05/0.......04/0
.........................................03/0.......02/0.......01/0
Redlands...........................11/10.....10/12.....09/7......08/12......07/13.....06/11.....05/9......04/6
.........................................03/8.......02/10.....01/5
Rialto................................11/0.......10/0.......09/0.......08/0.......07/0.......06/0.......05/0.......04/0
.........................................03/0.......02/0.......01/0
Riverside...........................11/21.....10/25.....09/19.....08/20.....07/22.....06/24.....05/23.....04/20
.........................................03/20.....02/18.....01/18
San Bernardino.................11/1.......10/0.......09/0.......08/1.......07/1.......06/1.......05/0.......04/0
.........................................03/0.......02/0.......01/1
Yucaipa/Calimesa..............11/1.......10/1.......09/3.......08/4.......07/7.......06/4.......05/3.......04/4
.........................................03/2.......02/5.......01/5
To a certain extent, these numbers are about the same as the over $400,000 market in these communities in 2003 and very much less than in 2005. We made a huge leap in value from 2003 to 2005. Will history repeat itself?