Manteca Real Estate Market Trends for March 2016

Number of Homes For Sale vs. Sold vs. Pended vs. New Listing (Jan. 2015 - Mar. 2016)

March 2016 is a Seller's market** Home For Sale in March 2016 is 158 units. It is down 6.5% compared to the last month and down 24% compared to the last year. Home Listed in March 2016 is 152 units. It is up 6.3% compared to the last month and down 20.4% compared to the last year. Home Closed in March 2016 is 133 units. It is up 37.1% compared to the last month and up 4.7% compared to the last year. Home Placed under Contract in March 2016 is 170 units. It is up 27.8% compared to the last month and up 27.8% compared to the last year. **Buyer's market: more than 6 months of inventory based on closed sales. Seller's market: less than 3 months of inventory based on closed sales. Neutral market: 3 - 6 months of inventory based on closed sales.

Average Price per SQFT (Sold) (Jan. 2015 - Mar. 2016)

March 2016 Average Sold Price per Square Footage is Neutral** Average Sold Price per Square Footage in March 2016 is $175. It is up 0.6% compared to the last month and up 8% compared to the last year. **Based on 6 month trend - Appreciating/Depreciating/Neutral.

Avg CDOM & SP/Orig LP % (Jan. 2015 - Mar. 2016)

March 2016 Average Continuous Days on Market trend Remains Steady** Continuous Days on Market in March 2016 is 35. It is down 5.4% compared to the last month and down 47.8% compared to the last year. March 2016 Sold/Original List Price Ratio Remains Steady** Sold/Original List Price % in March 2016 is 98%. It is down 1% compared to the last month and the same as compared to the last year. **Based on 6 month trend - Rising/Falling/Remains Steady.

*All reports are published April 2016, based on data available at the end of March 2016, except for the today stats. All reports presented are based on data supplied by the MetroList MLS. The MetroList MLS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by the MetroList MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

Lathrop Real Estate Market Trends March 2016

Number of Homes For Sale vs. Sold vs. Pended vs. New Listing (Jan. 2015 - Mar. 2016)

March 2016 is a Seller's market** Home For Sale in March 2016 is 22 units. It is down 24.1% compared to the last month and down 37.1% compared to the last year. Home Listed in March 2016 is 27 units. It is down 6.9% compared to the last month and down 18.2% compared to the last year. Home Closed in March 2016 is 22 units. It is up 37.5% compared to the last month and down 18.5% compared to the last year. Home Placed under Contract in March 2016 is 36 units. It is up 38.5% compared to the last month and up 63.6% compared to the last year. **Buyer's market: more than 6 months of inventory based on closed sales. Seller's market: less than 3 months of inventory based on closed sales. Neutral market: 3 - 6 months of inventory based on closed sales.

Average Price per SQFT (Sold) (Jan. 2015 - Mar. 2016)

March 2016 Average Sold Price per Square Footage is Neutral** Average Sold Price per Square Footage in March 2016 is $160. It is down 8% compared to the last month and up 3.2% compared to the last year. **Based on 6 month trend - Appreciating/Depreciating/Neutral.

Avg CDOM & SP/Orig LP % (Jan. 2015 - Mar. 2016)

March 2016 Average Continuous Days on Market trend is Falling** Continuous Days on Market in March 2016 is 23. It is down 11.5% compared to the last month and down 55.8% compared to the last year. March 2016 Sold/Original List Price Ratio Remains Steady** Sold/Original List Price % in March 2016 is 99%. It is down 2.9% compared to the last month and the same as compared to the last year. **Based on 6 month trend - Rising/Falling/Remains Steady.

*All reports are published April 2016, based on data available at the end of March 2016, except for the today stats. All reports presented are based on data supplied by the MetroList MLS. The MetroList MLS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by the MetroList MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

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California Labor Markets Back on Track - Market Update March 2016

California Labor Markets Back on Track

After suffering its first monthly decline in nearly 5 years in January, California’s labor market bounced back in February adding 39,400 new nonfarm jobs. In another sign of improving conditions, the state’s unemployment rate dipped to 5.5%—its lowest level in nearly 9 years. Importantly, this decline in the unemployment rate is due to genuine improvements in the state’s labor markets as both the labor force and the number of employed residents both went up in February. At a current level of 16.3 million, California is at an all-time high for the number of jobs.

The largest gains were in Tourism-related jobs, Construction, Healthcare, and Information, showing that the current labor market expansion spans across the spectrum of wage categories. Several sectors lost jobs last month, including Finance, Retail, Professional/Scientific/Technical, and Logistics as the state struggles with lackluster port activity.

Southern California took home the top prize in February as Los Angeles, Orange County, Ventura, and San Diego rounded out the 1-4 slots for new job creation last month. The more affordable portions of the Bay Area followed as Oakland, Stockton, Santa Rosa, and Solano Counties came in 4th-8th.

These job growth trends underscore the importance of housing to the state’s economy as a whole. As affordability continued to dwindle, more Californians are seeking housing in more affordable markets. This trend is especially strong in the Bay Area where an increasing number of jobs in the “Core Bay Area” are being filled by workers commuting in from other parts of the region. These residents who move away from the core due to lack of affordability and/or inventory initially commute into core areas, but can eventually become a catalyst for growth in these smaller economies and the uptick in job growth in some of these more-affordable areas suggests that some areas are making the most of that trend.

Brought to you by:

Janet Anderson REALTOR® 
Janet Anderson & Associates Realty
Keller Williams Realty 
2311-A North Tracy Blvd. 
Tracy, CA 95376 
Website: http://www.janetrealestate.com/ 
BRE License: 01837381

California home sales gain steam in February as shift toward more affordable areas tempers home prices

Source: C.A.R. 

Moderating home price appreciation and improving housing inventory combined to spur California’s housing market in February as existing home sales increased from both the previous month and year, according to the CALIFORNIA ASSOCIATION OF REALTORS®.

Making sense of the story

• Existing, single-family home sales totaled 393,360 in February on a seasonally adjusted annualized rate, up 2.6 percent from January and 6.4 percent above February 2015. 
• February’s statewide median home price was $446,460, down 4.7 percent from January and up 3.8 percent from February 2015. 
• Statewide sales of condos and townhomes rose 2.6 percent from January and 6.4 percent from February a year ago. 
• The February figure was up 2.6 percent from the revised 383,480 level in January and up 6.4 percent compared with home sales in February 2015 of a revised 369,630. February’s sales level was below the 400,000 level for the second straight month.
• C.A.R. President Pat “Ziggy” Zicarelli commented, “Market activity continues to be dampened by low housing inventory as baby boomers stay in their homes longer and new home construction, while improving, falls below needed supplies.” 
• The number of active listings increased for the second consecutive month after declining for five straight months. Active listings increased 4.1 percent from January on a statewide basis. 
• The median number of days it took to sell a single-family home declined in February to 41.6 days, compared with 44.5 days in January and 44.1 days in February 2015. 

Read the full story http://www.car.org/newsstand/newsreleases/2016releases/february2016sales

February 2016 is a Seller's Market for Lathrop, Manteca, Mountain House, and Tracy California Real Estate

February 2016 is a Seller's Market for Lathrop, Manteca, Mountain House, and Tracy California Real Estate
(Central Valley/San Joaquin County)

Report Published: March 2016* 

Property Types: Single Family Homes - All Properties - All Properties 

The Average Sold Price per Square Footage is Appreciating* 

The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the 'mix' of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The February 2016 Average Sold Price per Square Footage of $168 was the same as last month and up 7.7% from $156 in February of last year.

* Based on 6 month trend – Appreciating/Depreciating/Neutral

The Days on Market Shows Upward Trend* 

The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for February 2016 was 47, up 2.2% from 46 days last month and down 21.7% from 60 days in February of last year.

The Sold/Original List Price Ratio Remains Steady** 

The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 97% is the same as last month and up from 2.1% % in February of last year.

* Based on 6 month trend – Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady 

All reports are published March 2016, based on data available at the end of February 2016, except for the today stats. All reports presented are based on data supplied by the MetroList MLS. The MetroList MLS does not guarantee or is not in anyway responsible for its accuracy. Data maintained by the MetroList MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.

This Month in Real Estate for March 2016

This Month in Real Estate for March 2016