We analyze several housing market indicators in order to present an in-depth breakdown of San Bernardino Homes Market comparing February 2009 to February 2010.
Summary of Key Points
San Bernardino Homes for Sale has started showing signs of improvement with median sales price climbing up while at the same time houses are selling faster.Sellers received more than asking price.(102%).Drop in units sold is a phenomena that is state wide and is not a valid indicator.Last year there were a lot more foreclosures.presently lenders are taking a lot longer to approve short sales and as such the number of units in the market is less compared to last year.Whatever comes on the market sells faster.
Key Statistics, San Bernardino, CA: Median Sales Price (3.58%), Median Days on Market (-26.92%), and Number of Units Sold (-22.98%), Sales Price to List Price Ratio (Feb 09 96% – Feb 10 102%)
San Bernardino Homes
The city of San Bernardino experienced a 3.58% increase in median sales price from last year going up from $110,591 (Feb. 09) to $114,551 (Feb. 2010). Median days on market data for San Bernardino shows that houses are selling faster than Feb 09. It took 61 days in Feb 09 for a house to sell and for Feb 10 that number has gone down to 45 days (a 26.92% improvement). Another important factor to consider is total number of units sold. In the month of Feb 09, 248 units were sold compared to 191 for Feb 10 (-22.98% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for San Bernardino. SP/LP ratio for Feb 09 was 96% compared to 102% for Feb 10.
Let’s take a brief look at neighbors Fontana and Riverside. Fontana Homes featured a 0.73% increase in median sales price ($213,274 Feb 09 – $214,825 Feb 10) and Riverside Homes saw a 21.10% increase ($198,090 Feb 09 – $239,895 Feb 10). Are houses in Fontana and Riverside selling faster or slower this year? Well, Fontana experienced a 55.55% increase (35 to 55 days) in median days on market and Riverside a 39.61% increase (42 to 59 days). In the units sold category, Fontana sold 73 units less (-25.26%) in Feb 2010 than 09 and Riverside sold 78 units less (-20.16%) in Feb 2010 than Feb 09.
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