The number of Corona single-family homes that sold, went pending, or went under contract decreased 18% from last month and decreased 3.5% from this time last year.
Annualized turnover of Corona homes (the percentage of Corona homes that would sell during the next 12 months if the current rate of sales from November were to continue) took a similar hit in November (down 18% month-to-month and 8% year-to-year).
The median cumulative days on market of homes that were active, closed or went under contract during November increased to 61 days. It is fairly typical for the days on market to creep upward as we head toward the end of the year; however,
as you can see below, we are ahead of schedule from this time last year (up 21% from November 2018). I expect this number to get even higher in December.
What this means for buyers:
Buyers might be able to earn themselves a "December Discount" from sellers who are getting restless from sitting on the
market for longer than usual.
What this means for sellers:
Sellers who can afford to be patient on timing should try and be patient as buyers are slower to the punch during the
holidays. Sellers should also select strategies to stand apart from the competition. We are restless about monitoring your competition and adjusting to the competition, if necessary, to help you stand out to buyers.
See below for all of the current real estate trends in Corona:
If you have any questions about where the market is headed, let us know! We are also happy to provide an analysis of your own property or neighborhood.
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