Chino Hills, CA Home Values and Home Sales for January 2010
The months of supply of homes for sale is extremely low for single family homes in Chino Hills. From January 2009 to January 2010 the supply of homes for sale has decreased by 53%. We currently have a 2.4 month supply of homes, thus making Chino Hills a seller's market currently.
The supply and demand for single family homes shows us that the supply is down 50%, the demand for single family homes for sale is up 3%. Although demand has not shot up tremendously, the fact that the supply is substantially lower is what continues to drive prices upwards and stabilize the local market.
Over the past year the median sales price has increased by 26%. Additionally, since last January, the average days on the market has decreased by 47%. Homes remained on the market an average of 43 days. The sales price has increased from an average of $377,450 to $476,000.
The price of homes for sale is up 2% and the median price of homes sold is up 26%. Sellers are making 26% more on the sale of their homes this January than they were in January 2009.
For complete set of charts go to http://activerain.com/blogsview/1477293/chino-hills-home-values-and-home-sales-for-january-2010
Keisha Hosea is a local Market Expert and Realtor in Chino Hills, California with Keller Williams Realty, She is the Team Director and CEO of KASI Homes. The KASI Homes Team helps buyers and sellers with conventional sales, distressed sales, short sales, bank owned homes throughout the Inland Empire in cities including, but not limited to, Chino Hills, Chino, Ontario, Pomona, Diamond Bar, Corona and more. She has been a local resident for over 22 years and enjoys volunteering with the City of Chino Hills in her spare time.
