Mid-Month Market Report - August, 2012. Upland & Rancho Cucamonga, CA.
By Brad Rachielles.
After the close of business each month, I compile a local market report containing all of the real estate statistics anyone could want for the cities of Upland, Rancho Cucamonga, Claremont, Fontana and Ontario, CA among others. These are always posted on my BradRachielles.com web page for those really wanting All of the LOCAL facts and figures.
Of great concern lately has been the amount of home inventory there is to sell. With more buyers than sellers, it is really getting hard to find matches for shoppers. July's inventory for these ten communities was at 1.5 months of inventory. That has just fallen to under 1.3 months. We need homes for these buyers
I'm now to the point that when a buyer looses in a bidding war, asking the neighbors with similar properties if they would consider selling their homes. I know the home is not on the market, but, hey, I may get lucky, and the buyer just may get a home in the chosen neighborhood, school district or city.
Prices have climbed as a result of the shortage. While great for the seller right now, escalating prices could start to have an effect on the affordability numbers and we could see fewer buyers eventually. This seems to be a delicate time in the real estate market... interest rates low, foreclosures temporarily slow, prices increasing, buyers looking. It is a good time to sell if you have a need to do so. So, If you have a 3 bedroom, 2 bath home in Upland or Rancho Cucamonga that you may wish to sell, your call would be greatly appreciated. My cell number is: 909-816-7333.
This has been a Mid-Month Market Report - August, 2012. Upland & Rancho Cucamonga, CA
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Brad Rachielles, REALTOR. Helping Inland Empire Buyers and Sellers with their Real Estate needs in the Communities of: Upland, Rancho Cucamonga, Fontana, Claremont, Ontario, Chino, Chino Hills, Pomona and La Verne, CA.
Cell: 909-816-7333 B.R E. # 01489453
Web Page: http://www.BradRachielles.com