Corona CA, housing market trends

CORONA, CA HOUSING MARKET TRENDS HOUSING PRICES, AND FUTURE PROSPECTS CORONA, CA HOUSING MARKET TRENDS HOUSING PRICES, AND FUTURE PROSPECTS KAMESHA KEESEE

Amid the coronavirus crisis in the country, the Corona housing market remains to be somewhat competitive, according to Redfin’s compete for score data, which calculates the market trends over the last three months. The data also reveals that homes in the region typically receive one offer; also, homes sell for about 1% below the list price and go pending in around 56 days. Hot homes can sell for around the list price and go pending in approximately 29 days.

Total inventory for Corona

The total inventory tracks how many homes are currently listed for sale in Corona. It purposes to address the issue of supply and demand. A low inventory, coupled with a low average day on the market, indicates that the supply is not keeping up with the demand. An increased inventory with an increased day on the market means that the market has insufficient demand for the number of homes currently under sales.

Currently, Redfin has listed about 427 homes.

The average Market Days

The average days on the market for property tracks how long the property takes for a home to sell. Shorter days on the market indicates a decrease in inventory and more demand for the property. Redfin data shows that, on average, a property stays for 56 days on the market. Data through January 31, 2020, on Zillow, showed

the average days for properties in Corona was 82 days.

Market Action Index

The market action index will answer the question of how the market is performing, a general overview of how the market is, by measuring the current rates of sales versus the amount of inventory. The index above 30 shows Seller’s Market Conditions, while a market with an index below 30 indicates a buyers’ market.

Looking to sell in Corona? This may be your opportune moment. Get in touch with me today at keeseekamesha@aol.com; for more information, click here.

Sources & Works Cited https://www.redfin.com/city/4249/CA/ Corona/housing-market https://www.zillow.com/corona-ca/homevalues/ http://grahamandthehometeam.com/coronareal-estate-market/