jun2010 dorothys market update
DESCRIPTION
This shows graphs of the market conditions in Merced County. It includes data for the past one year and the past 2 years in such categories as medan sold price, average days on market, new listings, etcTRANSCRIPT
Coldwell Banker Gonella Realty
Dorothy Kielty
Market Update
June, 2010
Median Sold Price by MonthMay-09 vs. May-10: The median sold price is up 23%
Median Sold Price by MonthMay-08 vs. May-10: The median sold price is down 21%
The Average Days on Market by MonthMay-09 vs. May-10: The average days on market is down 26%
The Average Days on Market by MonthMay-08 vs. May-10: The average days on market is down 39%
The number of For Sale Properties by Month
May-09 vs. May-10: The number of for sale properties is down 32%
The number of For Sale Properties by MonthMay-08 vs. May-10: The number of for sale properties is down 62%
The Number of Sold Properties by Month May-09 vs. May-10 The number of sold properties is down by 36%
The Number of Sold Properties by Month May-08 vs. May-10 The number of sold properties is down by 5%
The Number of Under Contract Properties by Month May-09 vs. May-10 The number of under contract properties is down 9%
The Number of Under Contract Properties by Month May-08 vs. May-10 The number of under contract properties is up by 12%
The Number of New Properties Listed by Month May-09 vs. May-10 The number of new properties is down 6%
The Number of New Properties Listed by Month May-08 vs. May-10 The number of new properties is down 37%
Months Supply of Inventory May-09 vs. May-10: The average months supply of inventory is
down 35%
Months Supply of Inventory May-08 vs. May-10: The average months supply of inventory is
down 75%
Median For Sale vs. Median SoldMar-09 vs. Mar-10: The median price of for sale properties is up 9%. The
median price of sold properties is up 5%
Median For Sale vs. Median SoldApr-09 vs. Apr-10: The median price of for sale properties is up 9%. The
median price of sold properties is up 8%
Median For Sale vs. Median SoldMay-09 vs. May-10: The median price of for sale properties is up 0%.
The median price of sold properties is up 23%
Market Trends – San Joaquin / Stanislaus / Merced Counties
Market Trends – San Joaquin / Stanislaus / Merced Counties
California Housing Market
Source: California Association of REALTORS
California Housing Market
Multiple offers also led to home sales with the final sales price exceeding the list price in more instances.
Source: California Association of REALTORS
California Housing Market
Source: California Association of REALTORS
Most are Married◦ 49% are a married couple. Single females comprise a
quarter of first-time buyers, and single males account for just 12%.
They’re Young◦ More than 1/2 – 53% – are between the ages of 24
and 34. And 12% are younger than 24.
First-Time Buyers Research
Source: National Association of REALTORS 2009 Profile of Home Buyers and Sellers.
They’re Diverse◦ 22% are part of a minority group, compared with 13% of
repeat buyers. 6% speak a language other than English , and 12% were not born in the United States
First-Time Buyers Research
Source: National Association of REALTORS 2009 Profile of Home Buyers and Sellers.
They Take Their Time◦ First-time buyers take an average of 12 weeks to find
their home, compared to 10 weeks for repeat buyers.
They’re Not Afraid of Foreclosures◦ 11% of first-time buyers bought a home in foreclosure,
and 56% considered it. Only 9% of repeat buyers bought a foreclosure, and just 41% considered it.
First-Time Buyers Research
Source: National Association of REALTORS 2009 Profile of Home Buyers and Sellers.
2005 - 2009
NODs & Trustees Deeds Filed in California
0
20000
40000
60000
80000
100000
120000
1400002
00
5.3
20
05
.4
20
06
.1
20
06
.2
20
06
.3
20
06
.4
20
07
.1
20
07
.2
20
07
.3
20
07
.4
20
08
.1
20
08
.2
20
08
.3
20
08
.4
20
09
.1
20
09
.2
20
09
.3
20
09
.4
NODs Trustee Deeds
Source: DataQuick Information Systems
No. of Defaults or TDs
California: Q3-2009, NSA
CA Mortgage Foreclosure & Delinquency Rates
Q1
-19
79
Q1
-19
80
Q1
-19
81
Q1
-19
82
Q1
-19
83
Q1
-19
84
Q1
-19
85
Q1
-19
86
Q1
-19
87
Q1
-19
88
Q1
-19
89
Q1
-19
90
Q1
-19
91
Q1
-19
92
Q1
-19
93
Q1
-19
94
Q1
-19
95
Q1
-19
96
Q1
-19
97
Q1
-19
98
Q1
-19
99
Q1
-20
00
Q1
-20
01
Q1
-20
02
Q1
-20
03
Q1
-20
04
Q1
-20
05
Q1
-20
06
Q1
-20
07
Q1
-20
08
Q1
-20
09
0%
2%
4%
6%
8%
10%
12%
Delinquency Rate - CA Delinquency Rate - L/T Avg
Foreclosure Rate - CA Foreclosure Rate L/T Avg
SOURCE: Mortgage Bankers Association
Foreclosure Rate: Long Run Average: 1.0%
Delinquencies: Long Run Average: 4.1%
California Subprime & Alt A Loans As of May 2009
As of May 2009 Sub-Prime Alt-A
Number of All Loans in Category 345,505 632,215
Loans as Share of All Housing Units 3% 5%
ARMs As Share of All Loans in Category 66% 70%
Number of ARMs 226,997 440,022
Percent of ARMs…
…Already Reset 84.6% 46.9%
…To Reset Next 1-11 Months 7.9% 5.2%
…To Reset Next 12-23 Months 2.4% 7.4%
…To Reset Next 24+ Months 5.0% 40.4%
SOURCE: FirstAmerican CoreLogic, LoanPerformance Data, U.S. Census Bureau, and Federal Reserve Bank of New York, compiled by C.A.R.
I hope you find this information valuable.
Dorothy Kielty cell 209 489-0621
Dorothy Kielty
Coldwell Banker, Gonella Realty701 W Olive. Ave
Merced, CA 95348
Cell: 209-489-0621