New Data Reveals 'Hot' Bakersfield Real Estate Market for Sellers and Home Buyers, Up 25% in 2014
Echoing the latest statistics on housing trends in Bakersfield, California, Majestic Properties sales have risen for both buyers and sellers, noting the market is hot.
March 24, 2014 (Newswire.com) - Majestic Properties latest look into the sales statistics in Bakersfield, California reveals trends leaning toward a 'hot' real estate market. The Bakersfield real estate authority, which has sold in excess of $30 million of residential real estate in the Bakersfield area in 2013, points out that while the statistics aren't overly promising for the industry, they do see a sharp uptick in buying and/or selling opportunities.
Citing the latest statistics on the Bakersfield market of homes $300,000 and up, Majestic Properties says there are 300 homes currently listed - or up 25% since the start of the 2014, which translates to more competition. Sold homes, on the other hand, have been down by 43% since January 1st. This means many buyers and sellers try to close home sales before the end of the year, reflecting a higher than normal amount of sold properties in December.
Pending properties are up by 62% since January 1st, which reflects the trend of increased springtime buying/selling that normally takes place. Currently there is a little more than 6 months of Inventory which is the highest amount in the last year which reflects an inventory buildup.
According to Majestic Properties, Bakersfield homes average 62 days on the market, the highest since 2013, which calls for homeowners to plan ahead. Meanwhile the sold/original price is listed at 95%, the lowest over the last year. This reflects sellers' aggressive listing prices of the properties and what buyers are actually willing to pay for them.
Founders Bart and Tracey Tipton of Majestic Properties understand the dynamic pace of the Bakersfield real estate market. Through a thorough market and property evaluation, they have been able to help clients find the best home or sell theirs on the best terms.
"If you are looking for an agent to help you sale or help buy, this duo is the best in town," said happy client Brandon K. "They have proven to me on a number of occasions, that they are the best options around! I have worked with them on a few deals and each time they have been extremely professional and helped look out for me and my family's best interests. They are great agents and it starts with them being great people. You can trust these guys and you will be well taken care of!"
To find out more about buying or selling a property Bakersfield, CA, as advised by Majestic Properties, please visit http://www.mymajesticproperties.com/ for an interpretation of the market trends or to get a free market analysis of the value of your home.
Categories: Real Estate