We analyze several housing market indicators in order to present an in-depth breakdown of Modesto Homes Market comparing March 2009 to March 2010.
Summary of Key Points
Modesto Homes for Sale is showing signs of improvement with median sales price climbing up while at the same time houses are selling faster. Sellers received 99% ofl asking price.
Key Statistics, Modesto , CA: Median Sales Price (10.10%), Median Days on Market (-19.29%), and Number of Units Sold (-21.76%), Sales Price to List Price Ratio (March 09 98% – March 10 99%)
Modesto Homes
The city of Modesto experienced a 10.10% increase in median sales price from last year going up from $129,544 (March 09) to $142,622 (March 2010). Median days on market data for Modesto show that houses are selling faster than March 09. It took 59 days in March 09 for a house to sell and for March 10 that number has gone down to 48 days (a 19.29% improvement). Another important factor to consider is total number of units sold. In the month of March 09, 363 units were sold compared to 284 for March 10 (-21.76% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Modesto. SP/LP ratio for March 09 was 98% compared to 99% for March 10.
Let’s take a brief look at neighbors Turlock and Manteca. Turlock Homes featured a 3.74% increase in median sales price ($166,302 March 09 – $172,530 March 10) and Manteca Homes saw a 1.75% decrease ($183,676 March 09 – $180,467 March 10). Are houses in Turlock and Manteca selling faster or slower this year? Well, Turlock experienced a 30.63% decrease (51 to 36 days) in median days on market and Manteca a 16.74% decrease (54 to 45 days). In the units sold category, Turlock sold 8 units less (-9.20%) in March 2010 than 09 and Manteca sold the same number of units (0.00%) in March 2010 than March 09.
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