What did we learn about California real estate from the last month of 2016? A lot, according to the California Association of Realtors! Southern California pending sales are up, while San Francisco area pending sales are down a bit from November and when compared to December 2015.
California Real Estate in December: Ask and You Shall Receive!
However there is good news for sellers: the properties that sold for above asking price in December jumped up to 23% – a five point gain over 2015. And of those that received higher than asking price, they received about 11% higher. That’s also an increase from both the previous month and the previous year.
Along the same lines, the share of California real estate selling for below asking price dropped 14% from last year. That means that 34% of homes sold for asking price, also an increase!
For a few more interesting stats from the California Association of Realtors, and to find out how Petaluma and Penngrove are faring specifically, download the full article now!Download Article