San Bernardino County New Home Sales Up, Inventory Down, Hence Only Four to Five Months Supply Available to Buyers, Q1, 2008
San Bernardino, CA, April 29, 2008 – Setting aside year over year comparisons, total net sales volume increased for the second consecutive quarter in San Bernardino County, gaining 193 net sales, a 24 percent increase, and the first consecutive quarter volume increase since the first two quarters of 2005.
Additionally, overall total inventory decreased this quarter by slightly more than 9 percent, the third consecutive quarterly decline. Of the total units of inventory, only 1,693 units are in the offered and unsold category, down 18 percent from last quarter. Based on the sales rate of the last four quarters, offered and unsold attached inventory represents just over four months of supply, with offered and unsold detached inventory representing over five months of supply. “This information should be great news for the San Bernardino Community; two consecutive quarters of positive home sales”, remarked Russ Valone, MarketPointe Realty Advisors, Inc..
According to MarketPointe’s ResidentialTrends publication, of the 1,014 total new home sales in the first quarter, including attached and detached product, the submarket posting the majority of overall sales was Victorville/Apple Valley with 40 percent, followed by the Chino/Ontario submarket with 25 percent of the business, Rancho Cucamonga/Upland and Fontana/Rialto both posting 10 percent, and the remaining 15 percent of sales being divided amongst San Bernardino/Colton and Loma Linda/Redlands.
There were 28 actively selling projects in the attached sector; the detached sector saw the number of active projects remain equal to last quarter with 208 actively selling projects this quarter.
MarketPointe Realty Advisors 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 clicking on the Housing Market Overview photo on MarketPointe’s website, or www.marketpointe.com/landing. Phone San Diego at 619-233-3781, Orange County at 714-528-2554, Sacramento at 916-710-1396; url: www.marketpointe.com.
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- MarketPointe Realty Advisors
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