Still A Sellers Market

END OF THE YEAR MARKET UPDATE

Economists predict sales will continue to slow and housing prices will soften in many markets over the next 12 months, with larger price declines projected in more expensive areas. However, national inventory shortages will likely keep prices from dropping too much, as buyer demand continues to outpace supply, which remains limited at 3.3 months, according to NAR.

Fullerton Year over year new listings are down 14%. Closed Sales decreased -25%. Days on Market has increased +25% to 19 days. Residential Median Sales price increased +15% to $1,000,000, Average Sales Price of residential increased +14% to $1,116,000. Percent of Original list price received for sold property decreased -1.7%. Monthly Supply of Inventory increased +114% to 1.5 months.