January Mortgage Rate

CAL Vet 4.60% APR & VA Loans 4.3% APR*

** Overview of Mariposa, CA Market Trends

Mariposa’s home resale inventories decreased slightly, with a 3 percent decrease since December 2016. Distressed properties such as foreclosures and short sales remained the same as a percentage of the total market in January. The median listing price in Mariposa stayed the same from December to January. There were a total of 0 price increases and 9 price decreases.

  • While housing supply has been improving in real terms in recent months, the demand for housing continued to grow slightly higher pace than inventory.
  • Properties typically stayed on the market for 177 days in December, up from 98 days in November with an increase of 34 days from a year ago.                                            BUYERS 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 at 8months of inventory (Jan.has not been updates as of this print.) we are in a “BUYERS MARKET”.

Inventory from Nov. to Dec decreased 11% from 9 to 8 months of inventory.

Home sales declined year-over-year for the first time in 2015. Down 3.8% since one year ago and down 10.5% since last month. Meanwhile Home prices have continued to increase year-over-year. Up 6.3% since one year ago & up 0.5% since last month.

Sources

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.