Sunday, July 1, 2018 / by Jeff Reyes
The graph above shows what has been happening in our market for the last 12 months. We saw a 20% increase in the number of homes for sale over last month but only a 15% increase in the number of homes sold and pended in the same time period.
You also see that we saw a 22% increase in the number of homes for sale year over year but a big decline in the number of homes sold by almost 27% with pended homes dropping slightly by 6%.
What does that mean?
When you look at the graph below you will see what I believe to be the answer in the number of homes for sale increasing and the number of sold homes decreasing year over year.
The average price for a home that SOLD in 95355 increased by 13% year over year. With such a large increase it makes it more difficult for willing and able buyers to purchase a home in an affordable price bracket.
Here is a link to the current real estate market conditions for Modesto i ...