Single family homes are really selling quickly and for more money in Ramona! Let’s take a look at some of the key metrics comparing July data in Ramona for 2019 vs 2020.
2019 -> 2020 Numbers Respectively:
- New Listings: 64 -> 54
- Pending Sales: 48 -> 49
- Closed Sales: 52 -> 58
- Median Sales Price $545,000 -> $589,000
- Percent of Original List Price Received: 97.9% -> 99.7%
- Days on Market Until Sale 32 -> 32
- Inventory of Homes for Sale 133 -> 51
- Months Supply of Inventory 3.2 -> 1.3
New listings dropped 15.6% and closed sales increased 11.5%. Inventory of homes for sale dropped 62% which is causing a surge in demand with little supply. With the favorable current interest rates and far less homes on the market results in a surge of purchase price -> 8.1% year over year increase. This is a sellers market for Ramona!