Hi Everyone, William Lim here, Berkshire Hathaway Home Services. Serving home sellers and buyers, here in the beautiful city of Rancho Cucamonga, CA for the past 19 years. Today is the 1st day of February 2021, time to do another market update for Rancho Cucamonga. So, let’s dive-in and take a look. We had a total of 152 brand new listings came onto the market place, which is really good news, because we are hungry for more listings! The buyers do need them. So the brand new listings, summed up to be a total of 177 total active listings in the MLS. We had a total of 108 pending sales and a total of 151 closed transactions. Average days on the market remained at 26 days, which is an extremely fast turnaround. Months of supply remained at 1.1 months which is the same number as in December. So, the shortage of inventory continues. We do need 5 months of supply, so we do need 5 times more inventory. We are seriously low in inventory count. Now, let’s talk about the average price per square foot. In January, we marked it at $324. , if we look back a year in January, we were at $293. that is a total gain in price per square foot by 10.6% which is a pretty good number for the sellers/homeowners. To conclude this quick market update, we are still at a seller’s market due to an extremely low inventory situation. If you need more insight about Rancho Cucamonga real estate, if you need a FREE home evaluation, please contact us. You can call us at 909-239-2006. I hope you have a fantastic day today! And, I hope to see you and talk to you, very soon. Bye-bye.
Video to watch – Rancho Cucamonga Market Update
William Lim Group
Published on February 8, 2021
