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All posts tagged Moving to Grand Junction

The following is highlights from a report Heritage Title recently put out.
*Heritage Title- 970-241-8555

Keep in mind that winter is a slow sales time regardless of activity.  In my opinion, spring/summer are the telltale times of how the market is progressing.

1st Quarter Real Estate Highlights:
*10% fewer sales in 1st quarter 2014 vs 1st quarter 2013
*$133 million in real estate sales in 1st quarter 2014, down 8% from 2013
*median home pricing was for January: $167,400, Feb: $181,950, & March: 159,450
The market peaked in 2008 with a median sales price of $222,000
*Days on Market average was 131 days (2014) vs 153 days (2013).  Keep in mind that days on market for our area include the days that the property is under contract all the way up until the day of sale.
*Home Building: 97 permits issued vs 90 for the same time period last year
*Foreclosure filing dropped from 182 in 2013 to 148 in 1st quarter 2014.  The peak was in 2010 when there was 397 filings.
*resale of foreclosed homes composed 14% of the sales in 2014 (91 of them)  vs 25% in 2013 when there was 181

If you have any questions on market conditions or would like a free evaluation of your home’s value, please let me know.
Great service with equally great listing rates.

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With the first quarter behind us, let’s take a look at how the Redlands real estate market performed with regard to single family homes.  Keep in mind that traditionally the 1st quarter is the slowest of the year.

Redlands 1st Quarter 2014:
# of Sales: 38
*This represents the lowest number of sales in the past 4 years.

Average Sales Price:   $297,243
*This is also below the past 6 year average. In 2013, the average sales price was just over $326K

Average Days on Market: ~151 Days
*This also represents an uptick as compared to 2013 when the average days on market was ~126 days.

All in all, Jan-March has started slow for the area BUT this does represent the slowest selling time of the year and can be influenced by what is on the market as well as weather conditions.  Not always fun to get in the mood to look at real estate when it is cold outside.

As a reminder, 2013 represented the highest number of sales over the past 6 years with 290 sales for the year.  This helped clear much of the inventory on the market which could also lead to the slower 1st quarter as much of what was on the market was the remnants of what the market in 2013 did not buy.

As an example, I brought on a very nicely presented home in the Redlands on Feb. 26th of this year and we were under contract by April 4th.  When the home came on the market, there were a few showings here and there in the 1st few weeks but near the end of March, there was a dramatic search in showing activity.  So, if this holds, it could indicate the Buyers are coming out of their winter slumber and with the nice spring time temperatures setting in are out and about looking to buy.

Check back for more updates or contact me directly with questions.

 

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Between 2012 & 2013, the Census Bureau reports that 35.1 million people moved.   So, any guesses as to why 35+ million people moved last year?  Let’s take a look at the Top 15 Reasons people moved in 2013.

#1- New or Better Home/Apartment- 14. 8%
#2- To establish Own Household-  10.4%
#3- New Job or Transfer- 9.0%
#4- Wanted Cheaper Housing- 8.3%
#5- Wanted to Own Home, Not Rent- 5.8%
#6- Closer to Work, Easier Commute- 5.4%
#7- Change in Marital Status- 5.1%
#8- Better Neighborhood, Less Crime- 3.2%
#9- Other Job Related Reason- 2.3%
#10- To Look For Work or Lost Job- 2.1%
#11- Foreclosure/Eviction- 1.8%
#12- Retired- 0.7%
#13- To Attend/Leave College- 0.6%
#14- Health Reasons- 0.4%
#15- Change of Climate- 0.1%

If you find yourself like one of the 35 million americans and are considering moving, please give me a call.  Whether selling your home and moving to the beach (honestly, who else thought change of climate would be much higher?? I did) or a job relocation brings you to the Grand Junction area, I would be happy to help assist you in your real estate endeavors.

Full link to the article used for the above stats can be found at: http://eyeonhousing.org/2013/12/16/top-reasons-americans-moved-in-2013/

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