COMMENTARY
I think we can all agree, we entered Fall with a bang! Coming up on Thanksgiving, we have so much to be thankful for now that the fires have settled down throughout our area. One thing people always ask us is “How does a big wildfire affect home prices and home sales?” The answer is, not much. Insurance is another question! Insurance availability and pricing remains a big problem for our mountain area and a problem that doesn’t really have an answer at this time. So far, it hasn’t impacted our real estate market too much but it definitely could in the future.
The third quarter came through as expected with our listing inventory staying stable, solid listing prices and an increase in sales. One interesting item to note is the median sales price dropped a bit in most areas. The really good news was the lowering of interest rates we’ve all been waiting for! Of course the wild cards are the election we have coming up as well as two wars overseas that could tip the scales away from the stability we’ve seen thus far this year.
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
3RD 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 September 30, 2024 and includes residential properties only.
MARKET ANALYSIS FOR LISTINGS
Active Listings 83
Price Range $250,000-$5,995,000
Median Listing Price 3rd Quarter 2024 $428,000
Median Listing Price 2nd Quarter 2024 $460,000
Median Listing Price 3rd Quarter 2023 $427,000
Average Price Per Square Foot $343
MARKET ANALYSIS FOR SALES
Sold Homes 3rd Quarter 2024 37
Sold Homes 2nd Quarter 2024 27
Sold Homes 3rd Quarter 2023 46
Average Days On The Market 52
Price Range $210,000-$1,050,000
Median Sales Price 3rd Quarter 2024 $385,000
Median Sales Price 2nd Quarter 2024 $385,000
Median Sales Price 3rd Quarter 2023 $377,500
Average Price Per Square Foot $314
Homes Currently In Escrow 13
