COMMENTARY
Happy New Year! 2025 has definitely brought a few surprises for So Cal, the effects of which will play out over several months and years. We mountain folk are particularly empathetic as we know full well we sit on that same precipice with our fingers crossed, taking all the precautions we can, knowing full well Mother Nature is the one in control.
With a new president in office, we could see many changes nationally but as far as our local area is concerned, the big story will most likely be about insurance. Availability and pricing remain a big issue but also the fallout from the LA fires will certainly be on our radar.
While we were pleased to see a slight lowering in interest rates in 2024, it’s disappointing to hear fewer cuts are in store for 2025. Regardless, the market has shown remarkable resilience, and the 4th quarter of the year wrapped up with a stable listing inventory, solid listing prices, stable sale prices and stable sales numbers. Expectations for 2025 are generally more of the same with increases here and there as interest rates drop.
With the stability we are experiencing in home prices, sellers have retained much of their equity and are in great position to sell in this market. If you are considering selling this year, we can assist you in preparing your home to sell for the highest return on your dollar. We are your neighbors and your LOCAL experts with decades of mountain sales experience. We come to the table backed by 80 agents to get the job done!
Coldwell Banker Sky Ridge Realty remains #1 in listings and in sales mountain wide! Give us a call, we’re here to help!
John Lassak III Andrea Lassak
DRE# 02028106 DRE#00827102
714-308-1339 909-633-8106
JLassak3@Gmail.com CBLassak@aol.com
www.LiveOnTheMountain.com www.LiveOnTheMountain.com
JohnLassak.com
MARKET STATUS REPORT
4TH QUARTER 2024
In an effort to provide the latest report on market activity in the Running Springs area, I have compiled the following statistics for your review. This is a compilation of information taken from the California Regional Multiple Listing Service, is accurate as of December 31, 2024 and includes residential properties only.
MARKET ANALYSIS FOR LISTINGS
Active Listings 56
Price Range $229,000-$875,000
Median Listing Price 4th Quarter 2024 $425,000
Median Listing Price 3rd Quarter 2024 $428,000
Median Listing Price 4th Quarter 2023 $429,000
Average Price Per Square Foot $310
MARKET ANALYSIS FOR SALES
Sold Homes 4th Quarter 2024 36
Sold Homes 3rd Quarter 2024 37
Sold Homes 4th Quarter 2023 36
Average Days On The Market 53
Price Range $185,000-$998,000
Median Sales Price 4th Quarter 2024 $422,500
Median Sales Price 3rd Quarter 2024 $420,000
Median Sales Price 4th Quarter 2023 $357,500
Average Price Per Square Foot $287
Homes Currently In Escrow 3
