Real Estate Market Conditions in Tracy, CA -January 2010

The sales details for the first month of 2010 are showing a slow down in Tracy’s real estate market, which is typical for this time of the year.  Tracy’s inventory is still low; as of today we have 207 homes actively listed on the Multiple Listing Service for Tracy and surrounding country areas. The most important factor in purchasing a home is obtaining a loan. Government loans (FHA) are changing rules again; raising the amount of mortgage insurance premiums and raising the minimum down payment back up to 5% of the purchase price. On the other hand the tax credit is still available for qualified home buyers and California governor Arnold Schwarzenegger is about to pass another incentive for Californians; a $10,000 tax credit for new and resale home purchases. If it passes, it will become effective hopefully by the end of this month….

Following are the statistics for the month of January, 2010: 

  • Actively listed properties: 207

             Almost the same as it was in December 2009 (208) 

  • Homes that went “Pending Sale” for the last week of January:  34

             This is just a bit lower than it was for the same period in December (27)

  • Number of homes “Sold” in the month of December: 92

              This is a significant drop compared to the previous month when

              the number of sold home was 148 

  • The Average Days on the market of the Sold Properties: 46

             In December last year this number was 62.  

  • Average Listing Price: $296,75 
  • Average Sale Price: $244,573

 The charts below reflecting these numbers as well:

 

If you would like to have detailed statistics for other areas of the Central Valley, please feel free to call or email me – I would be glad to provide it for you.

 

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