Corona, CA Real Estate Activity - November 7, 2011
| As of November 7, 2011 |
Active Listings |
% of Total | Pending Listings |
% of Total | Sold Listings (in the last 30 days) |
% of Total |
| Standard Sales |
294 |
36.6% | 80 |
21.1% | 80 |
36.8% |
| Bank Owned (REO) |
88 |
11% | 93 |
24.5% | 59 |
27.1% |
| Short Sales |
419 |
52.2% | 198 |
52.2% | 78 |
36.0% |
| Other |
1 |
.12% | 8 |
2.1% | 0 |
|
| Total |
802 |
379 |
217 |
Here is a snapshot of what is currently happening in Corona CA in residential real estate. This chart includes only single family residences. Short sales are still the major part of the market right now based on the continuing high numbers of short sales for sale and pending short sales. There is a fewer percentage of sold short sales because they take longer to close and some of the short sales do not close successfully. (I did not include the many short sales currently in back-up status in this chart.) There are also a lot of standard sales and many of those are flip properties. This is where an investor has bought the house, fixed it up or rehabbed it, and then put it on the market for sale. Many buyers are looking for flipped properties since they don't have the time nor money to fix up a house themselves. I have worked with a number of buyers throughout 2011 who have bought a flipped property. Many buyers are looking for such properties because they dont have the cash nor time to fix up a house that needs it.
Also I want to mention one more thing about Corona real estate: the average list price of all the residential properties that sold in October 2011 was $313,728 which is really only slightly higher than the average sold price of $311,000. Buyers, this means that you probably won't be able to come in with a low ball offer unless the house has been on the market for a very long time.
Check out the Riverside market activity
If you are thinking of buying or selling a home in Riverside or Corona or other nearby Inland Empire cities, contact me at vicki@pedersen-team.com. Visit my website. Search thousands of properties for sale.
Written and posted by: Vicki Pedersen, ABR, GRI Pedersen Real Estate, Riverside/Corona, California, DRE# 01435715
Copyright © 2011 by Vicki Pedersen, All Rights Reserved.*Real Estate Activity - Corona CA *
Vicki - Great market report. It's scary to see over 50% of the active listings as short sales. I guess its good news for buyers if you can get them off the fence, but with numbers like that, it looks like its going to be a market under pressure for some time to come. Thanks for posting such a good update.