Market Review: June 2009

Activity for June, 2009

As of July, 2009, there are 2,564 residential properties for sale on the market in Kern County.
In May, 828 homes sold.
That is a 3 1/2 month supply of homes if no other homes come on the market.
During May 1164 homes were listed.

Of the homes currently for sale...

91 of these homes are priced above $500,000.
During June 8 of these homes sold.
That’s a 11 month supply in this price range if no others come on the market.
During June 19 additional homes in this price range were listed.

288 of these homes are priced $250,001-$500,000.
During June 89 of these homes sold.
That’s a 4 month supply in this price range if no others come on the market.
During June 127 additional homes in this price range were listed.

511 of these homes are priced $150,001-$250,000.
During June 211 of these homes sold.
That’s a 2 1/2 month supply in this price range if no others come on the market.
During June 295 additional homes in this price range were listed.

929 of these homes are priced under $150,000.
During June 520 of these homes sold.
That’s a 1 1/2 month supply in this price range if no others come on the market.
During June 723 additional homes in this price range were listed.

Number of homes sold in Kern County per month:
January - 671 February - 682 March - 845 April - 884
May - 665 June - 828
Number of homes per month sold is up from May to June. Number of listings coming on the market is also increasing. The month supply of homes for all categories have all DECREASED (supply is selling quicker). This means we currently, believe it or not, HAVE MORE DEMAND THAN SUPPLY. The banks are in another moratorium from listing foreclosures. Even though the number of foreclosed listings is gradually increasing compared to the past few weeks, right now is the best time, for the next few years, to sell your home for the most money possible. We actually need MORE listings to meet demand.
Y O U N E E D T O L I S T Y O U R H O M E T O D A Y !