Stockton Lodi Real Estate: Market Trends
The number of Homes in Stockton, homes in Lodi for sale and overall inventory in San Joaquin County has increased in November of 2010 from the same period in 2009. In a recent Tendgraphix report Stockton’s inventory of homes on Metrolist MLS increased from 780 homes for sale to 1,279 homes available, homes in Lodi for sale increased from 256 to 369 homes. We currently have 4 months of homes available for sale on the MLS and nationally it is around 12 months of inventory.
Prices continue to fall the median purchase price for homes has decreased 3% from the same period in 2009. The median price for homes in Stockton is $130,000 and homes in Lodi $178,000.
Closed sales as reported on Metrolist have fallen from 803 to 688 homes a decrease of 34%. In contrast pending sales have increased from 809 to 1088 a corresponding increase of 34%. There was marked decrease in all categories of sales: REO, Short Sales and those homes with equity. The MLS listing mix is comprised of: Short Sales 39%, foreclosures 24% and Equity sales 35%. The distressed sale accounted for 63% of homes available for sale and 65% of all sold properties.
An increase in homes for sale and continuing low interest rates present opportunities for both first time home buyers and move up buyers. Interest rates are currently ranging from 4.5% to 5.25%. Interest rates have shown an increase recently and it is probably the right time to consider a purchase.
The Lilly Team at PMZ Real Estate has been helping home buyers realize their dreams and reach their real estate goal for almost 30 years. Give us a call at 209-479-9222 or call e-mail us at thelillyteam@comcast.net
Stockton Neighborhoods: Brookside, Lincoln Village, Morada, Morada Ranch, Beck Ranch Spanos Park, West Spanos Park, Weston Ranch, Port of Stockton, UOP.
Stockton and Lodi Zip codes: 95208, 05204, 95205, 95206, 95207, 92209, 95210, 95212, 95215, 95219, 95242. 95240
Real Estate Multiple Listings: Stockton Real Estate, Lodi Real Estate, Bank owned homes, Stockton and Lodi Foreclosures and REO’s, Homes in Stockton, Homes in Lodi, Stockton California Listings, Stockton MLS Listings, Lodi MLS Listings, Ca Real Estate, Home Buyers, Stockton Homes for Sale, Lodi Homes for Sale, Stockton Short Sales, Brookside homes for sale, Spanos park home for sale, West Spanos Park Homes for sale, Old Morada, Stockton Golf Course homes for sale, Luxury homes, waterfront homes, Country homes, Stockton Short Sales Lodi Short Sales, Stockton Short Sale Specialist, Lodi short Sale Specialist.