subject: Modesto Homes Market Comparison Report (february 2009 Vs. February 2010) [print this page] We analyze several housing market indicators in order to present an in-depth breakdown of Modesto Homes Market comparing February 2009 to February 2010.
Summary of Key Points
Modesto Homes for Sale has started showing signs of improvement with median sales price climbing up while at the same time houses are selling faster. Sellers received full asking price as compared to 98% last year.
Key Statistics, Modesto, CA: Median Sales Price (8.02%), Median Days on Market (-3.35%), and Number of Units Sold (-21.51%), Sales Price to List Price Ratio (Feb 09 98% - Feb 10 100%)
Modesto Homes
The city of Modesto experienced an 8.02% increase in median sales price from last year going up from $134,663 (Feb. 09) to $145,459 (Feb. 2010). Median days on market data for Modesto show that houses are selling faster than Feb 09. It took 49 days in Feb 09 for a house to sell and for Feb 10 that number has gone down to 47 days (a 3.35% improvement). Another important factor to consider is total number of units sold. In the month of Feb 09, 265 units were sold compared to 208 for Feb 10 (-21.51% change). Lastly we are going to take a look at the Sales Price to List Price Ratio for Modesto. SP/LP ratio for Feb 09 was 98% compared to 100% for Feb 10.
Lets take a brief look at neighbors Turlock and Manteca. Turlock Homes featured a 6.81% decrease in median sales price ($188,810 Feb 09 - $175,952 Feb 10) and Manteca Homes saw a 6.04% decrease ($187,776 Feb 09 - $176,434 Feb 10). Are houses in Turlock and Manteca selling faster or slower this year? Well, Turlock experienced a 12.35% increase (48 to 54 days) in median days on market and Manteca a 17.22% decrease (45 to 37 days). In the units sold category, Turlock sold 1 unit more (1.61%) in Feb 2010 than 09 and Manteca sold 33 units less (-35.87%) in Feb 2010 than Feb 09.
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