Current Market Statistics

August 9, 2011

 

 

For the Bishop area (radius of 20 miles) per the Bishop Listing Service there are presently:

 

                        Homes Available:                               56

                        Homes In Escrow                               20

                        Homes Sold  1/1/11-7/31/11              62   

 

Average Days on Market for Sold Homes

1/1/08-12/31/08 = 140

1/1/09 - 12/31/09 = 129

1/1/10 - 12/31/10 = 75

1/1/11 – 7/31/11 = 98

 

Average Sales Price

1/1/07-12/31/07 = $413,982

1/1/08-12/31/08 = $359,409

1/1/09 - 12/31/09 = $327,055

1/1/10 – 12/31/10 = $289,834

1/1/11 – 7/31/11 = $269,671

 

 

105 homes sold (closed escrow) in 2010.

95 homes sold (closed escrow) in 2009.

95 homes sold (closed escrow) in 2008.

Average number of homes sold per month 2008 & 2009 = 7.9

Average number of homes sold per month for 2010 = 8.75

 

Average number of homes sold per month for 2011 = 8.9

 

Current Market Supply = 6.3 months

 

(Although we know this is unrealistic the process to calculate market supply is the following: If no more homes came on the market it would take 6.3 months to sell 56 homes at the current rate of 8.9 sales each month.)

Randi Pritchard, Real Estate Professional in Bishop California for Eastern Sierra Realty. Reach us at 760-873-4161.