Corona Real Estate Update: December 2018
January 10, 2019 | Brian Ash
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[Note: For specific neighborhood updates, follow the links at the bottom of this post.]

The number of closed real estate sales in Corona dropped 13.5% in December 2018. It's fairly common to see a slow down in December due to holiday activities. Along the same line, the annualized sales turnover dropped by 13.5% to 2.9% annualized turnover. In most areas of Corona we would expect anywhere between 4% and 6% turnover during the year, so while an annualized turnover of 2.9% is low, we usually see a slow down in sales around the holidays. Both active and closed prices remained fairly stable from previous months.

The median cumulative days on market was 62 days at the end of December. This means that single-family homes for sale in Corona typically sit for 62 days before being sold. This number has increased every month since September 2018 when it was 40 days.

Despite properties sitting longer, months of unsold inventory remained fairly stable from last month at 1.6 months. This number means that if the rate of sales that occurred in December were to continue for the next 12 months, it would take 1.6 months for the market to "sell out" of the inventory that was active, under contract, or pending as of December 31, 2018. This is a healthy number.

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For neighborhood-specific data in South Corona: CLICK HERE
Area 1 - "Eagle Glen"
Area 2 -  "Orchard Glen"
Area 3 - "Lincoln"
Area 4 - "Main"
Area 5 - "Mountain Gate"
Area 6 - "Citrus and Santana"
Area 7 - "Santiago and Cleveland"

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