How high will they go? Economists predict continued increases not despite of but because of current economic and national conditions.
So, how does Claremont, CA fare in comparison to the above state housing figures?
Utilizing February's data, the median price for a Single Family Home (SFR) in Claremont, CA was $798,000, down -7.7% from Feb 2020. But, in February, Claremont had a spike to $865,000 which is misleading. If we compare Price Per Square Foot, Claremont had a 14.2% gain, on par with the trend.
The February median price for a Condo/Townhome in Claremont, CA was $573,309...up +12.5%.
Some other indicators that point to a strong seller's market in Claremont, CA are:
Days on Market - The number of days a home is listed for sale before they accept an offer from a buyer. One to fifteen days is pretty quick.
February Days On Market in Claremont, CA: 14...down -46.2%. Condos: 20 Down -53.5%.
Month’s Supply - How many months it would take to sell all the houses in a given market before they run out, assuming no new properties became available. Typically, anything less than six months indicates a seller's market.
Month's Supply for February in Claremont, CA was: 1.6...down -30.4%. Condos: 1.5 Down -37.5%.
Active Listings - The number of homes available for sale in a given market or area.
Active Listings in Claremont, CA for February were: 39...down -33.9%. Condos: 8 Down -20%.
So, what do we have then?
Rising home prices
Homes selling faster
Less homes available for sale
A perfect recipe for a strong Seller's Market!
Thinking of selling? Want a detailed analysis of any other local city?
Give me a call or text! I'd be glad to help... 909-282-7173