Fontana Real Estate Market trends

Ameer Elahee

FONTANA REAL ESTATE MARKET TRENDS: APPRECIATION RATES AND LOOKING BEYOND THE 2ND QUARTER

The 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

Fontana real estate market is very competitive. Elsewhere, Fontana has experienced some of the highest home appreciation rates of any market in the nation in the last 10 years. According to NeighborhoodScout, real estate appreciated by 107.33% over the last 10 years, representing an average annual home appreciation rate of 7.56%. This puts Fontana among the top 10% nationally for real estate appreciation.

Moreover, data from NeighborhoodScout shows that Fontana’s appreciation rate was at 4.59% during the last 12 months; while in the last quarter, Fontana’s appreciation rate was 1.79%, which translates to a rate of 7.37% annually.

Moving on, you might be wondering whether it’s worth investing in real estate in Fontana. According to WalletInvestor’s live forecasting system, buying a home in Fontana is a “not so good short-term (1 year) investment.” Based on WalletInvestor’s forecasts, a long-term increase in home prices is expected in Fontana. And if you’re looking for homes for sale with good flipping profit, the Fontana market can be a profitable property investment option.

Work cited.

https://walletinvestor.com/real-estate-forecast/ca/sanbernardino/fontana-housing-market/. https://www.realtor.com/realestateandhomes-search/Fontana_ CA/overview.

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