Newark CA Short Sale Update | November 2012 Housing Statistics

Sumo

Newark CA Short Sale Update, Housing Stats for Newark CA for November 2012

Your Newark CA short sale specialists have some new information for Newark housing for November 2012. The number of active properties in Newark was at 49 for November 2011. That’s decreased over a year’s period of time down to 12. So November 2012, there were only 12 properties active on the market. So, as we’re seeing in a lot of areas in the East Bay, once a property goes on the market, we’ve got multiple offers, a lot of times bids over asking price, so that’s certainly increasing. Number of properties sold in November 2011, there were 22 properties sold. Fast forward a year later, 25 properties had sold in November of 2012. So, a few more properties sold year-over-year, but certainly the inventory levels continue to go down a little bit.

The month’s supply, which basically is defined by if there was not anymore inventory introduced on the market, how long would it take all the properties to go into contract? The month’s supply in November of 2011 was 1.4. In November of 2012, it wasn’t even a half a percent. So, again, it’s just showing us once properties come on the market, they’re going very, very quickly.

Median sale price in Newark, $362,000. Year-over-year it’s roughly going to change to about the same in 2012. The average days on market, 39 days on the market in November of 2011, versus November of 2012, we’re seeing days on the market at about 43, a pretty short period of time. A lot of other cities in the area, we’re seeing more towards 60, 90 days on the market, depending certainly on the number of Newark CA short sale properties. That takes a lot more time for the banks to approve, so that can certainly extend those time frames.

So if you have any questions about Newark CA short sale properties, whether it’s short sales, bank owned properties, regular sales, buying, selling, anything like that, feel free to contact us. Or visit our YouTube Channel for more information.