The inventory level for available homes continues to shrink!

 

Current Market Statistics- Bishop CA

December 1, 2011

 

 

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

 

                        Homes Available:                               47

                        Homes In Escrow                               14

                        Homes Sold  1/1/11-11/30/11                       102

 

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 – 11/30/11 = 87

 

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 – 11/30/11 = $270,869

 

 

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 = 9.3

 

Current Market Supply = 5 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 5 months to sell 47 homes at the current rate of 9.3 sales each month.)