The Latest Market Update From Rancho Cucamonga

What’s truly going on in the Rancho Cucamonga market? Today, I’m bringing you the latest numbers.

Buying a home? Click here to perform a full home search

Selling a home? Click here for a FREE Home Value Report

What’s really happening right now in the Rancho Cucamonga market?

Today, I’m bringing you the latest update. Let’s take a look.

The median comparable price was $500,750 a year ago. Six months ago, that price increased to $529,450. This year, the median sale price so far is $539,000.

Although sale prices are rising, the pace has slowed down slightly.

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Right now, sale prices are rising.

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The median list price has also seen some interesting changes. Last year the median comparable list price was $569,000. Six months later, that number made a dramatic leap up to $667,000. But right now, this number has dropped down to $645,000.

In terms of days on market, the current average is about 42 days.

Another statistic to look out for right now is mortgage rates. Currently, mortgage rates are sitting at 3.69% for a 30-year fixed rate and 2.95% for a 15-year fixed rate.

If you’re interested in letting us help you with your real estate needs, have any other questions, or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.

Rancho Cucamonga Real Estate Market Update

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Value Report

Today, we'll discuss current market conditions. A lot of people have been asking, "Is today's market a buyer's or seller's market?" The answer really depends on what price range you're looking in.

For homes below $417,000, the market is a seller's market with a strong demand for homes. For homes priced $700,000 and up, it is more of a buyer's market. That's due to the difficulties of obtaining financing in that particular price range.

Mortgage rates are very good right now, ranging between 3.75% to 4% for a 30-year fixed loan. Overall, market values have increased by about 10% year-over-year for this particular month.

But where are they going from here? It is expected that the Fed will increase interest rates by about a quarter of a percent. That is a small amount, and should not have a significant impact on the overall values of homes.

Overall, it's a good time to buy. If you have any more questions, give me a call or send me an email. I look forward to hearing from you!