Hello people of Wildomar! April showers are coming and going as are the homes in Wildomar’s real estate market. The statistics for the month of April has been quite interesting. Supply is depleting while sales are rising. I’ll show you what I mean. My statistics are based on single family residences, detached homes, with 3+ bedrooms and 2+ baths. Here are my numbers:
• Total # Actively Listed On Market in April: 42
• Average Wildomar Home Listed Price: $ 248,785
• # of Wildomar Properties Sold in March: 34
• Average Sold Wildomar Property Price: $ 230,260
• Average Days On Market Of Homes Sold in March: 72
I want to look at the active numbers first because they are the most telling about what is going on with Wildomar’s real estate market this month. The total number of homes actively listed on market dropped from 64 homes in March to 42 homes in April. This 34.37% decrease in supply is very disconcerting. If supply continues to drop this way, we will have a serious problem. The price at which these properties are listed rose about 4.9% from $237,146 in March to $248,785 in April. With less homes being listed, it would make sense that the price would begin to rise.
Now looking at the closed numbers, the total number of homes sold increased by 13.33%. This 4 home increase may seem minute, however with the supply dropping like it is, a 13.33% increase in demand can begin to make a difference. The sold price for these homes also increased by about 13.63%. In February, the average sold price was $202,632 while in March the average sold price was $230,260. Here you can see the lower supply and higher demand raising the average sold price. Lastly, the number of days on market decreased from 112 days in February to 72 days in March. That is a 35.71% decrease in average days on market.
Supply is going, demand is rising, and prices are rising. Will next month continue on this path? This is my Wildomar CA Real Estate Market Projections for April 2012. If you have any questions or additions to my report feel free to email me. I hope I leave you and your family happy and healthy. See you in May!
Stefan West
