Market Report

Despite our slowly recovering inventory in the Southern Yosemite Area, home sales in July were strong. We sold 50 single family residential properties this year, compared to 43 in July last year, and 34 last month. The median price was up 10 percent from $219,000 last year to $241,500 this year. For the past three months the median price was $230,000, compared to $200,000 last year. The year to date sales were down 14 units from 307 last year to 293 this year, however, dollar volume rose 15 percent to $83,124,979 compared to $72,336,568 for the period a year earlier.
Over the past 5 years, starting with 2009, annual median prices have been $210,000, $204,000, $175,000, 175,000, 200,000, and for the 2014 year to date, through July, is $230,000. Over the past three years we have seen a gradual movement away from a buyer’s market, and toward a seller’s market. Most economists agree that home prices will continue to increase for some time. That’s good news if you are thinking about selling.
We started the month of August with 48 homes in escrow, compared to 59 at the end of June.
At the end of July we had 375 active listing of homes for sale in our Yosemite Gateway MLS, at a median asking price of $339,000. Only 18 of those listed, or 4.8%, were distress properties (Bank owned and Short Sale Listings).