Local Market Trends

The following information is from the local MLS database, as of November 3, 2008 and is compared to (October 1, 2008).  If you are interested in a little more market information feel free to give us a call, we are always happy to talk about the market.

Summary:

The current market has slowed down some.  All of the bad press is really scaring everyone.  The stock market appears to be getting more stable and we are starting to see more buyers and investors starting to come out from the shadows.

With all the election hype, people are waiting to see what, and if, the lenders are going to really try and help people stay in their homes through numerous different ways (NOTE: re-structuring and loan modification).

I think the banks are going to have to cooperate more than they have been.  The government is getting involved to help make the banks cooperate more so that we can get back to a "somewhat normal" market.  Let's hope it works!

Tracy, CA

ACTIVE Status

Total # of residential properites for sale in the city of Tracy: 652 (646)

# of REO (foreclosures): 298 (278)

# of Short Sales: 287 (293)

Average # of days on market: 69 (65)

The median price of all homes for sale in Tracy: $245,000 ($249,900)

The average price of all homes for sale in Tracy: $266,381 ($280,302)

Lowest priced home: 1bd/594 sq. ft./$75,000

Highest priced home: 6bd/4,472 sq. ft./$1,102,939

PENDING Status

Number of properties currently under agreement: 397 (404)

# of REO: 322 (325)

Average pending price: $246,664 ($254,526)

Average pending home is 4 bedrooms, 2,045 square feet at a price of $246,664 that stays 42 days on the market.

SOLD Status

Residential property sold over previous 30 days: 163 homes or $42,527,215 in sales (160 homes or $41,283,365 in sales)

REO's sold in the last month: 136 (144)

Average sale price: $260,903 ($258,021)

Median sale price: $255,000 ($250,000)

High:530K (6bd, 4,098 sq. ft. home)

Low: 47.5K (2bd, 936 sq. ft. home)

 

 

Lathrop, CA

ACTIVE Status

Total # of residential properties for sale in the city of Lathrop: 260 (251)

# of REO (foreclosures): 138 (115)

# of Short Sales: 99 (112)

Average # of days on market: 65 (61)

The median price of all homes for sale in Lathrop: $209,900 ($219,900)

The average price of all homes for sale in Lathrop: $265,831 ($253,016)

Lowest priced home: 2bd/871 sq. ft./$60,000

Highest priced home: 6bd/4,165 sq. ft./$1,275,000

PENIDNG Status

Number of properties currently under agreement: 169 (169)

# of REO: 143 (146)

Average pending price: $214,359 ($226,535)

Average pending home is 4 bedrooms, 2,251 square feet at a price of $214,359 that stays 42 days on the market.

SOLD Status

Residential property sold over previous 30 days: 51 homes or $11,243,040 in sales (64 homes or $14,341,800 in sales)

REO's sold in the last month: 46 (62)

Average sale price: $220,452 ($224,091)

Median sale price: $230,000 ($217,500)

High: 335K (6bd/3,463 sq. ft. home)

Low: 39.9K (3bd/1,105 sq. ft. home)

 

Weston Ranch, CA

ACTIVE Status

Total # of residential properties for sale in Weston Ranch: 284 (264)

# of REO (foreclosures): 156 (141)

# of Short Sale: 105 (99)

Average # of days on market: 58 (67)

The median price of all homes for sale in Weston Ranch: $161,200 ($169,900)

The average price of all homes for sale in Weston Ranch: $172,396 ($180,553)

Lowest priced home: 2bd/1,100 sq. ft./$76,000

Highest priced home: 6bd/3,153 sq. ft./$420,000

PENDING Status

Number of properties currently under agreement: 186 (194)

# of REO: 166 (171)

Average pending home: $157,110 ($169,985)

Average pending home is 4 bedrooms, 1,935 square feet at a price of #157,110 that stays 42 days on the market.

SOLD Status

Residential proerty sold onver previous 30 days: 59 homes or $10,067,563 in sales (80 homes or $13,749,550 in sales)

Average sale price: $170,637 ($171,869)

Median sale price: $165,000 ($170,000)

High: 260K (5bd/3,000 sq. ft. home)

(275K (6bd/3,153 sq. ft. home))

Low: 112K (3bd/1,120 sq. ft. home)

(65K (2bd/864 sq. ft. home))

 

Below are links to previous Tracy Area Market Reports:

2/2/09 vs 1/2/09 http://www.tracyrealestateexpert.com/Blog/Tracy-Area-Market-Report-2209-vs-1209

1/2/09 vs. 12/1/08 http://tracyrealestateexpert.com/blog_post.asp?post=20478

12/1/08 vs. 11/3/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=19465

10/1/08 vs. 9/2/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=17634

9/2/08 vs. 8/1/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=16678

8/1/08 vs. 7/9/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=15614

4/4/08 vs. 3/4/08 http://tracyrealestateexpert.com/blog_post.asp?post=9503

3/14/08 vs. 2/14/08 http://tracyrealestateexpert.com/blog_post.asp?post=8914

3/14/08 vs. 2/14/08 http://tracyrealestateexpert.com/blog_post.asp?post=8913

2/14/08 vs. 1/11/08 http://tracyrealestateexpert.com/blog_post.asp?post=8227 

2/14/08 vs. 1/11/08 http://tracyrealestateexpert.com/blog_post.asp?post=8226

10/30/07 http://tracyrealestateexpert.com/blog_post.asp?post=5779