When you have exhausted all possibilities, remember this:you haven't. Thomas Edison
Please see our comparison of property values & inventory levels from just one year ago. Prices have dropped almost 50% in 1 year & each month the median price is continuing to drop.
Inventory levels of available properties have dropped by 30% in the past 4 months and is continuing to decline. This is in part due to the temporary moratorium of foreclosures in California & the increased investor activity.
Also note the large jump in pending sales from the previous year to the current year. This trend may continue for up to 6 months depending on new laws &/or policy set by lenders or government in the upcoming months.
November
2008
2007
December
Active
4160
4961
3672
4447
Pending
1578
795
1512
715
Sold
524
284
602
351
Median Sales Price
$145,000
$245,450
$143,000
$236,500
January
2009
February
3677
4445
3111
4585
1508
716
1746
965
662
283
654
324
$124,900
$220,000
$122,450
$230,500
The Bakersfield/Kern County market is ever changing especially this real estate market. You need an agent that stays on top of the trend & doesn’t follow it!
If you do need any assistance please feel free to give me a call or e-mail me at
joanne@joannemartin.net