Mariposa County Real Estate Newsletter October 2015

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October Mortgage Rate

CAL Vet 3.96% APR & VA Loans 3.64% APR*

** Overview of Mariposa, CA Market Trends

Mariposa’s home resale inventories decreased slightly, with a 3 percent decrease since September 2015. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in October. The median listing price in Mariposa stayed the same from September to October. There were a total of 1 price increases and 42 price decreases.

While housing supply has been improving in real terms in recent months, the demand for housing continued to grow at a balanced pace with inventory.

Properties typically stayed on the market for 40 days in September, up from 81 days in August with a decrease of 24 days from a year ago.

Sources

http://www.calvet.ca.gov/HomeLoans

http://www.realtor.org

http://www.bankrate.com

http://www.crmls.org

*percentages fluctuate with the market, contact a local mortgage broker for up to date information.

**Information was up to date at time of print. Contact Bryce Battershell or a local Realtor for updated information.

BALANCED MARKET

It is widely accepted in the Real Estate World that:

0-4 months of inventory is a “Seller’s Market”

5-7 months inventory is a “Balanced Market”

8-12 or more months of inventory is a “Buyer’s Market”

So with that as a guide in Mariposa County is still holding at 6months of inventory (September has not been updates as of this print.) we are in a “BALANCED MARKET”.

Mariposa’s home resale inventories decreased slightly, with a 3 percent decrease since September 2015. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in October. The median listing price in Mariposa stayed the same from September to October. There were a total of 1 price increases and 42 price decreases.

Local Market info at www.fresnomariposahomes.co

Look at market detail for Real Estate Mariposa,CA

 

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