San Bernardino Sales Volume Hits All Time Low
The 38 percent drop in the new-home market of San Bernardino County marks an all time low in the region. According to Robert Martinez, Director of Research for ResidentialTrends™ publication, “geography continues to play a part in overall trend” due to a 50 percent drop in sales volume in the Victor Valley. The rest of the region has shown a 27 percent decline by comparison. All of the attached development, none found in the Victor Valley, has declined more than 49 percent. And sales in the detached sector are down nearly 36 percent.
Weighted average price in the attached sector increased nearly 2 percent which coincided with a more than 3 percent increase in the average unit size. This resulted in an insignificant change in the attached average value ratio. In the detached sector a 15 percent weighted average price increase was seen along with a 4 percent increase in the weighted average home size. An 11 percent increase in the detached value ratio resulted. ResidentialTrends™ further reports “the Victor Valley had an influence on the region’s total as an 11 percent drop was noted” here compared with an 11 percent increase elsewhere in the region.
Overall total inventory declined 6 percent from last quarter in the county. Nevertheless, offered and unsold inventory increased 8 percent. According to current sales rates, unsold inventory represents less than one month of supply in the attached sector and just over two months in the detached. However, if all of the inventory in unreleased future phase inventory was suddenly released to the marketplace, the months of supply would increase to more than six months of attached and roughly 27 months of detached supply.
MarketPointe™ Realty Advisors, Inc. provides new housing market statistics throughout California via its ResidentialTrends™ new-home database and its LandTracker™ proposed development database, as well as site specific, tailored housing market research and consulting services. Comprehensive “Housing Market Overviews” providing new home sales, pricing, housing inventory trends, future housing supply, and new and leading developments are available for regions across California by going to www.marketpointe.com/landing. Phone San Diego at 619-233-3781, Orange County at 714-528-2554 or Sacramento at 916-710-1396; url:www.marketpointe.com.
- Contact Information
- Robert D. Martinez
- Director of Research
- MarketPointe™ Realty Advisors
- Contact via E-mail
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