Three hot topics for this market update
It's a great day at Jose Perez and Associates. My name is Jose Perez and I'm here to give you an update for the month of April. So today we're going to be talking about three topics.
Number one, I want to introduce you guys to our hottest new listing. Number two, I'm going to give you a quick real estate market update. Number three, we're highlighting a city that's really moving right now. So I want you guys to know about it.
Hot new listing!
First, we have a duplex that's hitting the market tomorrow and the City Terrace. Now, this is two units. Each one of them is 4 bedrooms, 2 baths, and this property is built in 2005 so it's perfect if you're looking to live in one and rent the other, you'll rent that for $2,500 which will keep your mortgage to a minimum. Or if you have a large family, you don't want to take the whole thing, a lot of options on this property. Feel free to visit 1144vanpelt.com For more information.
We average you 103% of the list price!
Second, we have an update for you in regards to the market. Now the market's doing great. The average days on the market for a home today is about 34 days. Then, of course, there's an additional 30 days to get the transaction closed. Also the month's supply, now this is important when you hear people talk about whether it's a buyer's market or a seller's market, what that really means is that if we have more than 6 months worth of inventory and it becomes a buyers market, but right now we're hovering around 3.2 months of a supply, which is great. That means the market starting to kind of tee up to a neutral zone, but buyers, if you're looking to buy, you're still able to go out there and get an offer accepted. Sellers, it's still a sellers' market out there. The other thing with regards to stats that we've noticed is that properties are selling about 98.5% of what they list for. Now that's great. I mean people are out there selling properties at about list price. Now, not to toot our own horn, but we're averaging 103% for our sellers, so if you or someone you know is looking to sell, please reach out to us at (951) 444-5811 to find out more about how we can get you top dollar for your house.
Ontario is HOT!
Lastly, guys, I want to really highlight a city that's moving, city of Ontario. Now, the city of Ontario is building about 46,000 new homes over the next 15 years. That means there's going to be about 200,000 people. It's going to be the fifth largest city in California. And what's really important is that the average price is 450,000 and the Max loan limit in the area is $484,000 that means we can still get you into Ontario with zero down. And you can take advantage of the appreciation there. Over the last 12 months, properties have appreciated almost 9% in Ontario.
So if you or someone you know, looking to buy or sell, between LA and Palm Springs, you know what to do, give us a call at 951-444-5811 or visit our website at www.JosePerezandAssociates.com.