The Mesa market took off briskly during the first two months of 2014 with double the sales of 2013. However March 2014 sales scaled back to be on an even par with March 2013 — evidence for a slowing of the sales pace. Median prices increased this year, but not continuing at the 25 percent rate from last year. For March, Mesa median prices were up nine percent above the 2013 prices.
I attribute the slowdown in sales and the lower median prices to two factors. One, there are fewer homes on the market – currently there are only 11 listings on the Mesa. Secondly, the buyers are concentrating on purchasing lower priced homes.
There is still wild interest in Mesa listings as evidenced by the average days on the market for sales. This month the average was only 20 days, compared to 39 days last year and well below the average of 48 days for the South Coast. This is way below the 78 days it took last year.
Mesa properties are selling quickly! When we get new listings on the Mesa they sell. If you have been waiting for a better market in which to sell your home, perhaps it is time to contact a Realtor?
The constraint of less listings is really evident in the overall South Coast market. In the past month we had 106 houses sold, compared to 160 in the previous year. We had 232 new listings, which is encouraging, but it was still less than the 256 last year. If you choose to put a home on the market, it will surely sell and for a good price. If you want to consult with a Realtor about how this market applies to your home contact me at 805 451-9300.
Real estate is a business puzzle
There is a lot to solve.
1. Home staging
2. Choosing the right agent
3. Selecting the right price
4. Marketing adequately
5. Negotiating offers
I take the guesswork out of real estate.
“You were very honest, experienced, trustworthy and professional and helped us manage the remodeling—money that was very well spent”
– Wolfgang Dengler M.D.
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– Ruby and Chuck Love