Market Review: October 2009

As of November, 2009, there are 2,646 residential properties for sale on the market in Kern County.
In October, 771 homes sold.
That is a 3 1/2 month supply of homes if no other homes come on the market.
During October 1126 homes were listed.

Of the homes currently for sale...

108 of these homes are priced above $500,000.
During October 8 of these homes sold.
That’s a 13 1/2 month supply in this price range if no others come on the market.
During October 24 additional homes in this price range were listed.

343 of these homes are priced $250,001-$500,000.
During October 67 of these homes sold.
That’s a 5 month supply in this price range if no others come on the market.
During October 114 additional homes in this price range were listed.

770 of these homes are priced $150,001-$250,000.
During October 215 of these homes sold.
That’s a 3 1/2 month supply in this price range if no others come on the market.
During October 311 additional homes in this price range were listed.

1426 of these homes are priced under $150,000.
During October 484 of these homes sold.
That’s a 3 month supply in this price range if no others come on the market.
During October 676 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
July – 508
August – 459
September - 487
October - 771

Note: The "month supply" means the number of months it would take to sell the current number of homes at the current rate, with no change in factors. The month supply for EVERY category increased since last checked (for June), meaning it now takes longer to get through our inventory of homes than it did in June. We also now have slightly more homes currently on the market than since last checked (early July).

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 !

Market Review: May 2009

As of June 1, 2009, there are 2,401 residential properties for sale on the market in Kern County.
In May, 665 homes sold. That is a 3 1/2 month supply of homes if no other homes come on the market. During May 1038 homes were listed.

102 of these homes are priced above $500,000. During May 6 of these homes sold. That’s a 17 month supply in this price range if no others come on the market. During May 27 additional homes in this price range were listed.

371 of these homes are priced $250,001-$500,000. During May 46 of these homes sold. That’s a 8 month supply in this price range if no others come on the market. During May 143 additional homes in this price range were listed.

704 of these homes are priced $150,001-$250,000. During May 187 of these homes sold. That’s a 3 1/2 month supply in this price range if no others come on the market. During May 338 additional homes in this price range were listed.

1224 of these homes are priced under $150,000. During May 426 of these homes sold. That’s a 3 month supply in this price range if no others come on the market. During May 530 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

Number of sales are down, as well as number of listings (2700+ in mid-April down to 2401 today). The number of foreclosures on the market have drastically been reduced. However, the foreclosure moratorium is now over and bank owned foreclosures will soon flood the market again. Now is the RIGHT time to list your home for sale to receive the most value, before home values are further lowered by the competitive banks. Speculators are estimating bank owned foreclosures for sale will last for awhile, possible through 2012. Bakersfield home values have dropped to below 2002 levels, with some real estate experts estimating we will soon drop before 1999 levels. Now is NOT the time to wait, now is the time to list with an aggressive agent to get your home sold, for the best value, in the quickest time, with the least amount of hassle!

Market Review: March, 2009

As of April 19, 2009, there are 2,734 residential properties for sale on the market in Kern County.
In March, 845 homes sold.
That is a 3 month supply of homes if no other homes come on the market.

124 of these homes are priced above $500,000.
During March 8 of these homes sold.
That’s a 15 1/2 month supply in this price range if no others come on the market.
During March 26 additional homes in this price range were listed.

381 of these homes are priced $250,001-$500,000.
During March 50 of these homes sold.
That’s a 7 1/2 month supply in this price range if no others come on the market.
During March 146 additional homes in this price range were listed.

758 of these homes are priced $150,001-$250,000.
During March 211 of these homes sold.
That’s a 3 1/2 month supply in this price range if no others come on the market.
During March 347 additional homes in this price range were listed.

1471 of these homes are priced under $150,000.
During March 576 of these homes sold.
That’s a 2 1/2 month supply in this price range if no others come on the market.During March 818 additional homes in this price range were listed.

Contrary to the doom and gloom reported on the news and in the newspaper, homes are selling in Kern County. March beat February for homes sold (682), as well as January (671). However, in March, listings sold (845) was beaten by new listings (1,337). The buyer’s market is going strong, with many people facing multiple offers on bank owned foreclosures, not to mention long bank responses, and homes that don’t qualify for the increased FHA loan market, with many banks unwilling to do repairs. In addition, there is a moratorium on the amount of foreclosures coming on the market, making this the best time for owners to sell their homes, for the best possible value, for a long time, before the foreclosures once again flood the market. Price, condition and location are the deciding factors in homes being sold, with PRICE being the most critical factor in getting showings and sales. Here’s the good news: 800+ homes sold last month! Yours can be one of them! People have two options in pricing their home:
1.) Pricing too high, helping their neighbor sell their home.
2.) Pricing the home right, selling their home instead of their neighbor!
Are you willing to price your home competitively in order to get it SOLD?