At Home in Upland

The Latest Market Update for Upland, CA - January, 2011

Upland, CA.

January in the Inland Empire, and Upland, CA specifically is all abuzz with hope and good things. It looked like everyone took December "off"and are now ready to get back to the business of real estate.

If you have been following my posts, you already know that statistics can tell a lot about a market. My information is based on Single Family Residences (SFR) and I provide information on active listings, pending sales, closed home sales and these are related to the preceding year to help identify the changes.

Starting the new year, we are all anxious to see if there are statistics that may establish new trends. There is no surprise that Upland prices are still down about 40% from the peak of several years ago

The Upland "Numbers in a Nutshell" are:

• Active Listings -    205 units. UP from January of 2010 (127).
• Pending Sales -  48 Units - Down from last year's January of 76  units.
• Closed Sales - 37 properties - Up 32% from January 2010.
• Average Selling Price - $365,078, Down 6.6% from January 2010.
• Average Days On Market - 92 Days.
• Months of Inventory -   5.5 months.... Unchanged from last months number.

Recent history shows that Upland has had a smaller percentage of distressed sales than many surrounding communities. Standard Sales represent 44.1% of the total transactions for SFR with Short Sales at 20.6% and Bank Owned Properties changing -7% from last year's January..

These numbers mean a lot to me, but certainly others will have questions. You can see the entire spreadsheet for my "Top Ten Cities by following this link. The good thing is that you will see much more than I can relate in this short post. If you have questions, please feel free to call at your convenience.

This has been the Latest Market Update for Upland, CA - January, 2011. You can stay up to date by subscribing to this news. Clock the blue button on the right immediately following this line. Thanks for reading! Your comments would be greatly appreciated.