INVENTORY WAY DOWN In LOCAL Markets Too. Upland, CA Case in Point.
By Brad Rachielles, Upland, CA
The national real estate news this morning carried articles decrying the lack of inventory of homes for sale and how competition for these homes is fierce.
Because my focus is always on the LOCAL situation, I rarely agree with the national press when it comes to providing information that MY CLIENTS can use. Today's headlines apply here too.... this time.
For those ten cities that I watch closely around Upland, CA, the May, 2012 Active Listings were:
DOWN 56.7%
from May of 2011. 3710 listings have dropped to 1606 listings for the same month.
THE EFFECT:
Your "Dream Home" will be harder to find, and when you do find it, expect LOTS OF COMPETITION!!!
INVENTORY WAY DOWN In LOCAL Markets Too. Upland, CA Case in Point.
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It's All About YOU! Brad Rachielles, REALTOR, Upland, CA
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
Web Page: http://www.BradRachielles.com
e-Mail: bradrachielles@dslextreme.com
Hi Brad, inventory way down here in Anaheim and Fullerton also...about 75% in both cities.
Inventory going down by the day here too. A good thing .... things are leveling out to the more normal now. I always like seeing positive news... thanks Brad.
Ronald,
75% is above everything that I've seen. You MUST be getting multiple offers.... probably listing day one. Thanks for your comment.
John,
Not sure that everyone agrees that this is good news. Sure is for REALTORS with listings.
Brad, this means that home buyers in Upland CA really do need to be ready with full loan approval in hand or proof of funds. I'm sure you're seeing multiple first day offers there, like we are.
Homeowners looking to sell their home in Upland CA should call Brad Rachielles - values are rising, inventory of active listings is low and marketing times are very short. Call Brad for your market analysis - he can help you decide if now is a good time to sell you Upland CA home.
Juli,
Thank You! :-)
Segments of our market are certainly switching back to a sellers market. Buyers who hesitate are going to lose and regret their missed opportunity. Good call to action Brad.
Debb,
We're back to a "fast & furious" mode. Clearly, the prize (read that home) will certainly go to those who are ready, willing and able to act. The fact that we are getting multiple offers on well presented and appropriately priced properties IS evidence that buyers are recognizing the changed state of the real estate segment of the economy and are again turning out.
Thanks Debb!