Fullerton homeowners are well aware by now that homes in this affluent city are extremely hot, and their values are only continuing to rise at a steady clip. Inventory rates are down for Fullerton homes in 2013, and while many national markets saw drop-offs in home value performance in June and July due to mortgage rates going up by more than a full point, Fullerton appears unaffected, according to recent home value data for the region.
In an August 2nd study from California-based real estate analytics tracker Altos Research, it was discovered that Fullerton homes for sale have a steadily increasing median list price of $640,423. This number is up almost $80,000 per home on average – an astounding increase – since the beginning of the year when the Fullerton median list price was just over $560,000. And as mentioned, these numbers are increasing steadily as they have been since they really took off in April, with no sign of a decline occurring in the Fullerton home market.
Fullerton housing market action index also impressing
Another positive trend for those with Fullerton homes looking to sell is that the Fullerton home market action index (MAI) has stayed strong and stable ever since reaching the high-water mark it’s been gravitating around for the past four-plus months. Altos uses the MAI to calculate whether a home market caters to buyers or sellers, and with an MAI at 42.16 for Fullerton homes as of the August 2nd Altos report, Fullerton is 12 points above the line that divides these two sides of the market.
Days on market (DOM) for Fullerton homes have also been trending downward, with Fullerton’s DOM at 78. This is down massively from about 130 at the beginning of the year, signaling that Fullerton home buyers are scooping up homes with a much higher sense of urgency as the market has continued to blossom. These seller-friendly trends are also reflected in Fullerton’s low inventory, with Altos listing 186 Fullerton homes for sale, down from about 220 at the beginning of the year.
If you’d like to hear more about the amazing Fullerton homes available on the market, please contact me. I’m a local agent with numerous lovely Fullerton properties at my disposal.