For the month ending November 2010, Stevenson Ranch median “sold” prices jumped from October 2010 to November 2010. I have heard others in the “real estate reporting fields” screaming from the roof tops that Prices are increasing – But is that really the case?
This is not the case – this just happened to be a case where inventory has been depleted – Expired listings almost tripled from October to November and the Buyers have come around that were wanting to purchase the more “higher end” homes in Stevenson Ranch.
Also, there were a lot of transactions that had been in process throughout the late fall – In fact, some of those transactions had been started in Mid Summer! Primarily Short Sales otherwise known as Pre-Foreclosures, they take time, sometimes several months, to work themselves out and close.
I have attached all of the market data and it is very revealing. There is a year of activity depicted for just Stevenson Ranch CA – We will want to slow our burn and see what 3-5 months after November 2010 shows to get a better grasp on Market Stabilization in Stevenson Ranch CA.
Median Sold Price for Stevenson Ranch – October compared to November 2010, it jumped more than 25% in “sold” value – Which might indicate an upswing in home prices and market stabailization.
However, when you look at the graph depicting Sold properties
– We are almost at even numbers when comparing October to November.
Expired homes toppled the charts – Expiring as active listings between October and November showed a dramatic reduction with regard to homes for sale in Stevenson Ranch CA.
The timing seemed excellent with the increase in Median Sold Prices as compared to inventory being depleted – Not much in the way of new inventory has come into the market in Stevenson Ranch and Expired listings are very common. If you are on the search for Stevenson Ranch Real Estate we have a search system that is updated several times per hour.