6-Month Market Update for Covina

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There is no better time than the midpoint of the year for an update on market conditions in Covina. With 6 months of real estate data under our belt, it's time to take a look at how we are doing in comparison to last year. The numbers look pretty good:

• January - June of 2013: 
• 8,777 homes sold
• Average sale price: $381,875
• Average days on market: 54
• Active listings: 22,746

• January - June of 2014 
• 7,704 homes sold
• Average sale price: $435,833
• Average days on market: 56
• Active listings: 25,584

As you can see, fewer homes have sold than at this time last year. Other than that, these numbers look pretty strong. Home prices are up, which is a good sign - the average listing price is up $45,000 from last year. Additionally, the average that these homes are actually sold for is up 14%. 

Another sign the market is more normal than it's been in past years is that the number of active listings has increased 12.5%, up 25,548 from 22,746 at this time last year. These stats are good for both buyers and sellers, as there is a good selection of homes for those looking to buy, and sellers are getting higher prices than they were last year.

If you have any questions about what the market looks like in your particular area, or have further questions about what these numbers mean for you, please give me a call. I would love to help you make sense of these conditions.