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Clovis Real Estate Market Report – July 12th, 2009
July 12th, 2009
Clovis Real Estate Market Report – July 12th, 2009
The Latest Market Information for Clovis Home Buyers and Sellers
Number of Clovis Homes for Sale. The number of Clovis homes for sale is shrinking. A year ago, there were over 560 homes for sale in Clovis. Today, there are 300 (see the chart below).
This is a bit of bad news for Clovis buyers and good news for Clovis home sellers. A low inventory means fewer homes to go around and more buyers competing for the same properties. We’re now seeing multiple offers on some Clovis homes which is a bad sign if you’re buying a home but a good sign if you’re thinking about selling your home.
Nevertheless, until prices begin to increase it’s still a strong buyer’s market and it’s best to wait to sell your home. Thinking of buying a Clovis home? Low prices, great interest rates, and thousands of dollars in tax incentives still make this a great time to buy in Clovis. You still have time to wait to buy, but keep in mind these prices and low interest rates won’t last forever.
Clovis Home Prices
Clovis homes prices have decreased dramatically from a year ago, but have slumped again the past 2 months. It’s still too early to tell whether home prices have hit the bottom in Clovis, but an increase in sales prices April-May is a good sign for Clovis sellers. We’ll watch the recent downturn to see if this is a sign of further price declines or just the see-saw of the regular market.
Days on the Market
Clovis homes are starting to sell a bit faster. Compared to the past few months, homes are moving more quickly, but it still takes, on average, nearly 6 months to sell a Clovis home. It’s now prime selling season and with lower inventories, and great interest rates, the number of days on the market are expected to decrease as buyers snatch up inexpensive homes before school starts.
Let us know if you’re interested in buying or selling your Clovis home. We’ll help you reach your home goals.
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