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Market Report – Last Week in Dana Point

Median list prices in Dana Point remained at $549,900 for the week ending on Monday, March 24, 2014. DOM (days on market) have decreased while the Market Action Index remains much the same keeping us in a Seller’s market.

What Dana Point Statistics Mean 

Both sellers and buyers benefit from today’s listing prices.  With inventory still sufficiently low we continue to be in the Seller’s Market zone. However, if the market heats up and we see increased inventory, prices will begin to climb.

Real Time Statistics

Median List Price: $549,900

Asking Price Per Square Foot: $435

Average Days on Market: 127

Percent of Properties with Price Decrease: 29%

Percent Relisted (reset DOM): 38%

Percent Flip: 4%

Median House Size: 1,266 sq. ft.

Median Number of Bedrooms: 2.0

Median Number of Bathrooms: 2.0

Market Action Index (Seller’s Advantage): 33.1

Buyer’s Benefit

Though, we are in a seller’s market, buyer benefit from the softened prices. Homes can still be purchased at lower prices that previously seen. While median prices remain the same, they are still affordable and interest rates remain in low ranges.

Seller’s Benefit

If you are a seller, with the market as it is, it’s the time to sell. You are in a much better position to sell. Your home is in demand which means more freedom when choosing between offers on your home.

Let’s Talk

The most current market summary points to today’s real estate market being a good time to purchase from a buyer’s standpoint and a great time to sell from a seller’s standpoint. Contact us and we can explain what to expect when purchasing and selling in today’s market.

 

 

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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