The following info is from the local MLS database, as of April 4th 2008, as compared to March 3th 2008. If you are interested in a little more market information feel free to give me a call, I am always happy to talk about the market.

ACTIVE Status:
Total # of Residential properties for sale in the city of Tracy: 854 883

# of REO (foreclosures): 328 328
# of Short Sales: 342  251

Average # of days on market: 87 89
The Median price of all Homes for sale in Tracy: $315,000
$349,900
The Average price of all Homes for sale in Tracy:
$348,854 $375,734

Lowest priced home: 1bd/1.00ba/502 sq.ft/$100,000
Highest priced home: 7bd/6ba/6500 sq.ft/$1,350,000


PENDING Status:
Number of properties currently under agreement: 299 171
# of REO: 225 122
# of Short Sales: 45  14

Average pending price: $322,102 $335,227


Avr. pending home is 4bd, 3ba, 2089 sq.ft at a price $322,102 and 61 days on the market.


SOLD Status:
Residential property sold over previous 30 days: 69 homes or 23,413,463 in sales; 42 homes or $12,666,252 in sales.

REO's Sold in last month: 54 34

Average sale price: $343,178 $362,310

Median sale price: $350,000 $356,557

High: 599K (5/5bd 3882 sq.ft home).
Low: 150K (440 sq.ft home)

 

Summary: It is still a market being driven by Bank owned homes. Note the pending sales almost doubled and most are Bank owned homes .We are seeing buyers jumping off the fence. Interest rates are still at all time lows. This tells us that the Market could be close to the bottom and the perfect time for a 1st time buyer or investor. Short sale’s have really took a jump due to the upgrades to our M.L.S. system we are able to find them easier than before.” Short sale is when the seller owes more than what the home is worth and the seller is trying to sell it before it goes into foreclosure. This whole transaction is subject to the lenders approval and can take 30 to 60 days to get an answer from the lender. In General Most buyers do not consider these homes because of the delay in response from the lenders. If you are a BUYER the good times are here. Call or e mail us for an appointment. If you are a seller the market is being driven by the foreclosure market so the we always tell our sellers if you don’t have to SELL then Don’t. Either way when you want the EXPERTS in your corner. Call or e mail us at tiger@bpbarringer.com or call 1-800-894-7282

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

11/3/08 vs. 10/1/08 http://www.tracyrealestateexpert.com/blog_post.asp?post=18625

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