Realtors, appraisers, and real estate trend geeks use a variety of data to measure how the housing market is moving. One of the most obvious methods is to track the number of single family homes sold from month-to-month. Over time the comparisons can be used to gauge seasonal trends, and determine whether or not last month’s or last year’s sales were brisk, average, or temporarily anemic.
Over the past 10 ½ years Ridgecrest has seen dark valleys of dismal sales along with elevated slopes of high-water. For instance, single family home sales dropped as low as 12 homes in February of 2007 while earlier in June 2005 a record high of 54 homes sold and closed escrow. On the average 29 single family homes have sold per month since January 2005. Using this 29 figure as an average benchmark, April and May of 2015 experienced a vibrant movement of market activity with 38 and 40 homes sold, respectively.
Yearly Sales--Sold Single Family Homes units sold
Avg homes sold per month in 2005: 527/12 = 43 +20% more activity than 2004
Avg homes sold per month in 2006: 337/12 = 28 -35% less activity than 2005
Avg homes sold per month in 2007: 294/12 = 24.5 -12.% less activity than 2006
Avg homes sold per month in 2008: 341/12 = 28 +14.4% more activity than 2007
Avg homes sold per month in 2009: 359/12 = 30 +7.2% more activity than 2008
Avg homes sold per month in 2010: 330/12 = 27.5 -8.3% less activity than 2009
Avg homes sold per month in 2011: 292/12 = 24 -12.6% less activity than 2010
Avg homes sold per month in 2012: 354/ 12 = 29.5 +18.6% more activity than 2011
Avg homes sold per month in 2013: 316/12 = 26 -11.86 less activity than 2012
Avg homes sold per month in 2014: 352/12 = 29.3 +12.69% more activity than 2013
Avg homes sold per month in 2015: 145/5 = 29
Avg homes sold per month since Jan 2005: 3,647/125 = 29.17 homes
Overall, yearly sales show that, despite BRAC and the Great Recession of 2008, the Indian Wells Valley has weathered well through it all. Since mid-March the market has moved at a very rapid, yet healthy pace. June is expected to also produce a higher than average month of sales.
For more on the market give me a call, Clint Freeman at (760) 382-1082 or go to www.ridgecrestcahomes.com.