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Ramona, California 92065 Housing Market Update for July 2020

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!