http://www.movoto.com/, the spot on the internet to find and buy a home in Northern and Southern California, today released the company’s monthly California home inventory report. Movoto’s report is drawn from nine different local California multiple listing services and gives a snapshot of local inventories of homes for sale, average list prices, time on market and inventory of distressed properties.
Average list price showed a month over month decrease from October to November in 17 of 18 California counties tracked. The largest declines were in San Francisco, Contra Costa, and Sacramento Counties. Continuing decreases in list prices suggest that sellers are having increasing difficulty selling their properties, even with aggressive pricing meant to draw buyers.
Continuing the trend from October, total days on market (DOM) increased in 14 of 18 counties across Northern and Southern California. 17 counties now have more than 50% of their inventory greater than 60 days old and 12 counties have more than 60% of their inventory greater than 60 days old compared 5 counties exceeding 60% last month.
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