December has come and all things holiday are occurring - kids are seeing Santa (I recommend the Lake Elsinore Outlet by the way - no wait and a great Santa Claus), people are receiving time off their jobs, and tons are out hitting the stores shopping! However that is not everything that folks are purchasing in 2012! I gathered the numbers for Dec. and the sales data for November and we are seeing a holiday season surprise this December.
I will keep this report brief since I also have some shopping to get done soon! As per the norm, my analysis is based on single family homes that are 3+ bedrooms, 2+ bathrooms, and detached - i.e. no condos or townhomes. Not trying to offend those properties but I feel pulling a standard dataset is critical to knowing developments and the basic Single Family is king in Temecula Real Estate Analysis. So let's see what the holiday season is bringing the Temecula real estate:
Hmmmmmm.... what is going on here but a bump in Temecula properties sold from October to Nov 2011! We rose from 140 in both September and Oct to 160 properties sold in November, the month of Fall! That is a growth of 14.3% in what is generally a slow down month. The even more fascinating aspect is that we haven't seen many closings since Aug and Jun which were around 170 and 160 respectively. That is quite extraordinary.
Thinking about the other figures, the amount of active Temecula homes on the market shrank from 352 in November to only 315 in Dec, a drop of 10.5% in supply. Even so, the typical listed cost barely changed at all, staying at the $347,000 range. As for the precise sales or closing cost, it grew from $295,890 in Oct sales to $297,764 in November sales, a marginal increase. Finally, the days on market (DOM) has pretty much stayed the same changing from 81 days for Temecula Valley Oct sales to 86 days for November sales.
I will definitely forecast that we may see a slow down in sales this month than in November. Santa Claus is a giving man but it is still Christmas and I assume that people do not have the time or inclination to buy homes as aggressively as they did in Nov. Even so, I }wouldn't~would not} have predicted November to be such a good month either. I will say I remain busy and have two properties closing before January as do a number of my agents - so we may just have to see :).
That finishes my December analysis for the Temecula Real Estate Analysis and Trends. I hope you and your family members have a terrific Christmas and Happy New Year! See you in 2012!
Happy Holidays!
Stefan West, Broker/Owner of West Realty
