Ameer Elahee
T
he 2021 Fontana real estate market continues to be a hot place. Three months into 2021, the Fontana real estate market is not so much different from what we saw in the 2020 market. Housing supply is still low, same as last year, home values are still on the rise, while demand is skyrocketing. According to Realtor.com, the February 2021 median list price of homes in Fontana was $490,000, representing an increase of 11.4% year-over-year. Moreover, the median listing price per square foot was $272 while the median sale price was $515,000. A seller’s market continued to dominate the Fontana real estate market in February 2021. This means that there were more people hunting for homes than the available homes for sale. According to Realtor.com, the February sale-to-list price ratio in Fontana was 101.96%. This means that homes in Fontana sold for 1.96% above the asking price on average in February 2021. Moving on, the median list price in Fontana surged by 6% from February to March 2021, according to Movoto. On the other hand, Fontana’s home resale inventories went up by 11% in March 2021, from the previous month. In terms of market competitiveness, Fontana attained a Redfin Compete Score of 82, which means that the
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FONTANA REAL ESTATE MARKET TRENDS: APPRECIATION RATES AND LOOKING BEYOND THE 2ND QUARTER
