The following information is from the local MLS database, as of August 1, 2012 and is compared to (July 1, 2012). The market here is dominated by short sales, REO's and Flips. The MetroList MLS has now created a new category for Short Sales that have an offer sent to the bank for approval. They are now Pending Short Lender Approval. This will truly show the consumer the amount of active listings. There are much fewer homes available to show that even the short sales are getting multiple offers. We have seen a handful of equity sellers and many "Flips". Interest rates remain low with 30 yr fixed at 3.49% and 15 year at 2.80%.
The inventory is declining with barley one month supply left. There is a definite lack of good homes for sale. This is because there are many buyers grabbing them as they come out. Prices are increasing as a result of the competing between the buyers. If you have been on the Fence about selling your home then NOW is the time to sell. If you are in need of counseling about the short sale process and how it effects your credit, please give us a call. Just call or e-mail for an hassle free appointment or to just talk about the market anytime. 1-800-894-7282 or sales@tracyhomes.com

 

Tracy, CA

ACTIVE Status

Total # of residential properties for sale in the city of Tracy: 48 (52)

# of REO (foreclosures): 9 (8)

# of Short Sales: 9 (18)

Average # of days on market: 85 (89)

The median price of all homes for sale in Tracy: $272,752 ($257,750)

The average price of all homes for sale in Tracy: $297,752 (305,569)

Lowest priced home: 1br/612sqft. ft. /$54,900

Highest priced home: 7bd/4427sqft. ft. /$900,000

PENDING Status

Number of properties currently under agreement: 389 (247)

# of REO: 28 (26)

# of Pending Short Lender Approval: 141 (141)

Average pending price: $239,517 ($250,975)

Median pending price: $235,000 ($240,000)

SOLD Status

Residential property sold over previous 30 days: 103 homes (105)

REO’s sold in the last month: 15 (16)

Short sales sold in the last month: 38 (49)

Average sale price: $262,566 ($241,159)

Median sale price: $255,000 ($253,000)

High: $655,000 (5bd/4538q. ft. home)

Low: $71,000 (2bd/708 sq. ft. home)

 

 

Mountain House, CA

ACTIVE Status

Total # of residential properties for sale in the city of Mountain House: 19 (16)

# of REO (foreclosures): 1 (1)

# of Short Sales: 5 (6)

Average # of days on market: 33 (89)

The median price of all homes for sale in Mountain House: $365,800 ($310,000)

The average price of all homes for sale in Mountain House: $348,042 ($309,651)

Lowest priced home: 2bd/1367sq. ft. /$155,000

Highest priced home: 5bd/3362 sq. ft. /$500,000

PENDING Status

Number of properties currently under agreement: 116 (91)

# of REO: 7 (7)

# of Pending Short Lender Approval: 39 (54)

Median pending price: $300,000 ($310,000)

Average pending price: $294,480 ($301,652)

SOLD Status

Residential property sold over previous 30 days: 18 homes (26 homes)

REO’s sold in the last month: 4 (7)

Short sales sold in the last month: 5 (7)

Average sale price: $340,892 ($301,715)

Median sale price: $365,900 ($326,000)

High: $459,000 (5bd/4021sq. ft. homes

Low: $140,000(2bd/1262 sq. ft. home)