CAL Vet 4.60% APR & VA Loans 4.3% APR*
** Overview of Mariposa, CA Market Trends
Mariposa’s home resale inventories increased slightly, with a 33.3 percent increase since January 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 increased 10.6%from $469,000 December to $518,888 January. With 0 price reductions
- Lawrence Yun, NAR chief economist, says December’s robust bounce back caps off the best year of existing sales (5.26 million) since 2006 (6.48 million). “While the carryover of November’s delayed transactions into December contributed greatly to the sharp increase, the overall pace taken together indicates sales these last two months maintained the healthy level of activity seen in most of 2015,” he said. “Additionally, the prospect of higher mortgage rates in coming months and warm November and December weather allowed more homes to close before the end of the year.”
- Properties typically stayed on the market for 57 days in January, up from 55 days in December with an decrease of 7 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 “SELLER’S MARKET”.
Inventory from Dec. to Jan increased 33% from 3 to 4 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.
*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.
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