DataQuick: June 2008 Sales by City

Median Sales prices from DataQuick for June 2008.

County/City/Area

# Sold

June 2008

June 2007

% Chg Yr-to-Yr

CHINO	78	$360,409	$500,000	-27.92%
CHINO HILLS	64	$446,500	$630,000	-29.13%
FONTANA	252	$289,000	$435,000	-33.56%
ONTARIO	96	$290,000	$411,000	-29.44%
RANCHO CUCAMONGA	163	$385,000	$523,500	-26.46%
SAN BERNARDINO	170	$168,500	$287,000	-41.29%
UPLAND	55	$375,000	$555,000	-32.43%

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California Leads Starbucks List

Starbucks has released its full list of store closures. During the quest to have a Starbucks on each corner many were opened in areas that showed large growth in residential homes. I suspect that the areas being closed had large numbers of building permits during the real estate boom. Starbucks probably used the number of permits as a gauge for the amount of growth in population expected. As we all know now, many of these numbers were deceptive. Much of the homes were actually vacant and being purchased by speculators (notice I did not say investors) and flipped for profit to more speculators. Homes that were being flipped to other speculators often were never lived in. This occurred a lot booming areas such as Temecula and other Inland Empire cities which are now suffering most of the real estate slump.

Click on graph for larger image

A total of 617 stores are on the list with California closing the most followed by Florida and Texas. 88 (14%) stores in California, 59 (10%) in Florida and 57 (9%) in Texas.

Visit the full list of store closures and to see if your favorite store is being decaffeinated.

Some of the local cities that are getting store closures are:

CORONA

2

FONTANA

2

ONTARIO

3

RANCHO CUCAMONGA

1

RIVERSIDE

2

UPLAND

1

The list includes stores near the neighborhoods of Sierra Lakes in Fontana and Dos Lagos in Corona.

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Weekly Median Asking Price June 30, 2008

The median asking price according to HousingTracker.net continues to fall at an average rate of $3k per week. This weeks decline was only $100 which is only a -0.04% change. This is in contrast to last weeks decline of $5k, a change of -1.8%. Inventory levels are down to 45,947, a change of -3.3%.

I wouldn't get too excited about this weeks apparent slow down in price declines. The weekly average has been pretty consistent. Until inventories take a significant decline, price declines will continue. With the coming wave of loan resets I expect thave inventories may rise. It all depends on how quickly the banks can unload their current properties.

The area being tracked includes the major cities of Corona, Fontana, Moreno Valley, Ontario, Palm Desert, Palm Springs, Rancho Cucamonga, Riverside, San Bernardino, Temecula and many others.

Trend	06/30/2008	1 month	3 month	6 month	12 month
Median Price	$269,900	-5.3%	-12.9%	-22.9%	-32.5%
Inventory	45,947	-2.6%	-5.2%	-7.9%	-11.4%

Date	Inventory (SFH + Condo)	25th Percentile	50th Percentile (Median)	75th Percentile
06/30/2008	45,947	$194,900	$269,900	$387,500
06/23/2008	47,519	$195,225	$270,000	$389,000
06/16/2008	46,962	$199,000	$275,000	$395,000
06/09/2008	47,297	$199,900	$279,000	$399,000
06/02/2008	46,949	$200,000	$280,000	$399,000
05/26/2008	47,187	$200,000	$285,000	$399,000
05/19/2008	46,779	$208,900	$289,000	$399,900
05/12/2008	47,403	$210,000	$292,500	$402,500
05/05/2008	47,960	$215,000	$299,000	$410,000
04/28/2008	48,253	$219,900	$299,000	$415,000

Weekly Median Asking Price June 16, 2008

The median asking price according to HousingTracker.net continues to fall for the Riverside-San Bernardino area. The cities tracked include the cities of Corona, Fontana, Rancho Cucamonga, Ontario, and others. The median asking price fell by $4k this week and averages about $3k per week over the last 10 weeks. The weekly median asking price fell -1.4% to $275,000. The weekly inventory dropped -0.7% to a total of 46,962 units. This is only slightly higher than it was two weeks ago.

Trend	06/16/2008	1 month	3 month	6 month	12 month
Median Price	$275,000	-4.8%	-13.9%	-21.4%	-31.2%
Inventory	46,962	+0.4%	-4.4%	-7.5%	-7.8%

Date	Inventory (SFH + Condo)	25th Percentile	50th Percentile (Median)	75th Percentile
06/16/2008	46,962	$199,000	$275,000	$395,000
06/09/2008	47,297	$199,900	$279,000	$399,000
06/02/2008	46,949	$200,000	$280,000	$399,000
05/26/2008	47,187	$200,000	$285,000	$399,000
05/19/2008	46,779	$208,900	$289,000	$399,900
05/12/2008	47,403	$210,000	$292,500	$402,500
05/05/2008	47,960	$215,000	$299,000	$410,000
04/28/2008	48,253	$219,900	$299,000	$415,000
04/21/2008	47,920	$224,000	$299,900	$419,999
04/14/2008	48,625	$225,000	$299,999	$423,990

Weekly Median Asking Price

The median asking price according to HousingTracker.net continues to fall for the Riverside-San Bernardino area, but at a slower pace this week. The cities tracked include the cities of Corona, Fontana, Rancho Cucamonga, Ontario, and others. The weekly median asking price fell -0.4% to $279,000. This week, the weekly inventory also increase dropped +0.7% to a total of 47,297 units.

Trend	06/09/2008	1 month	3 month	6 month	12 month
Median Price	$279,000	-4.6%	-12.8%	-21.6%	-30.9%
Inventory	47,297	-0.2%	-3.9%	-9.9%	-6.4%

Date	Inventory (SFH + Condo)	25th Percentile	50th Percentile (Median)	75th Percentile
06/09/2008	47,297	$199,900	$279,000	$399,000
06/02/2008	46,949	$200,000	$280,000	$399,000
05/26/2008	47,187	$200,000	$285,000	$399,000
05/19/2008	46,779	$208,900	$289,000	$399,900
05/12/2008	47,403	$210,000	$292,500	$402,500
05/05/2008	47,960	$215,000	$299,000	$410,000
04/28/2008	48,253	$219,900	$299,000	$415,000
04/21/2008	47,920	$224,000	$299,900	$419,999
04/14/2008	48,625	$225,000	$299,999	$423,990
04/07/2008	49,226	$229,000	$304,900	$425,000