San Bernardino Housing Sales Dramatically Increase, Q1, 2007

FOR IMMEDIATE RELEASE


With the most number of active projects in the market since the fourth quarter of 1991, total net sales increased dramatically this quarter, increasing by 61 percent to 1,746 net sales. While down from the first quarter of previous years, the increase in sales this quarter reversed a three quarter decline in total net sales, with 49 new projects introduced to the market this quarter. In the attached sector, a net increase of six new projects helped to boost sales this quarter, up 87 percent from last quarter, making the first quarter of 2007 the second highest quarter on record. A net increase of 21 active detached projects helped drive the increased detached net sales this quarter, up 56 percent from last quarter.
According to MarketPointe Realty Advisor’s ResidentialTrends, the overall weighted average price increased slightly this quarter, increasing by just over 1 percent to $471,270. The weighted average price in the attached sector increased just over 2 percent this quarter to $370,546. The detached sector saw prices increase by over 2 percent.
Overall total inventory increased this quarter, rising by 17 percent to 13,603 units. Inventory levels in the attached sector increased by 1,027. Of the total units, 87 percent are in future phases and have yet to be released. In the detached sector, inventory levels increased by 8 percent from last quarter. Of the total units, 85 percent are in future phases of current developments.
In addition to MarketPointe’s quarterly surveys of San Bernardino County, new home sales reports are published for Kern, Imperial, Greater Los Angeles, Ventura, Orange, Santa Clarita-Antelope Valleys, East Riverside, West Riverside and San Diego Counties.
MarketPointe Realty Advisors ResidentialTrends is a quarterly publication, and is considered the most comprehensive and detailed audit of new residential activity throughout Southern California, from an unbiased, yet knowledgeable source. MarketPointe Realty Advisors provides new home and available land information and real estate consulting services. The offices are located in San Diego and Orange County, with representation throughout California. For a complete housing report on a specific development region contact the nearest office, San Diego at 619-233-3781, Orange County at 714-528-2554, website is www.marketpointe.com/res_trends.shtml.

Contact Information

Russ Valone

President & CEO

MarketPointe Realty Advisors

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