default avatar
Welcome to the site! Login or Signup below.
Logout|My Dashboard

Only 59 homes on the market in Lodi

Font Size:
Default font size
Larger font size

Posted: Friday, January 11, 2013 11:20 am

According to a Metrolist MLS property search there are only 59 homes on the market in Lodi, With such low inventory it’s no surprise that San Joaquin County experienced a 16 percent increase in average sales price for 2012. The average sales price for 2011 was $176,000 and rose to $205,000 in 2012.

What an opportunity for our area! When I started my real estate career just 10 short years ago there were about 120 homes on the market in Lodi. That was when homes were selling like hot cakes and the average sales price was about $320,000.

With only 59 homes on the market you can imagine the tough competition out there to get an offer accepted. The trifling inventory has brought tough completion for buyers, causing them to adjust their offer strategy. Offers are routinely sent with a buyers highest and best intentions rather than historically conservative lower than list price offer amounts. I’ve even seen buyers submit personal photos and letters along with offers to help get a sellers acceptance.

Our real estate market closed out the year with a 19 percent decrease in new listings. 2011 presented 13,172 new listings while only 10,637 for 2012. With no possible potential of a shadow inventory to help ease the strain, 2013 is predicted to remain consistent with last year’s figures.

For those of you that have been looking to purchase a home I’d like to encourage you to keep trying. If you’ve been looking for longer than 3 months, don’t be too discouraged. Since we are experiencing a once in a generation opportunity to buy or sell homes it’s going to take a little extra effort to get an offer accepted. Writing offers today is not how they were written just a few short years ago. But with the help of your trusted Realtor it won’t be long before you’ll be one step closer to homeownership.

Sheri Aguilar is the president of the Lodi Association of Realtors and can be reached at Sheri@YourLocalAOR.com

Rules of Conduct

  • 1 Use your real name. You must register with your full first and last name before you can comment. (And don’t pretend you’re someone else.)
  • 2 Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually oriented language.
  • 3 Don’t threaten. Threats of harming another person will not be tolerated.
  • 4 Be truthful. Don't lie about anyone or anything. Don't post unsubstantiated allegations, rumors or gossip that could harm the reputation of a person, company or organization.
  • 5 Be nice. No racism, sexism or any sort of -ism that is degrading to another person.
  • 6 Stay on topic. Make sure your comments are about the story. Don’t insult each other.
  • 7 Tell us if the discussion is getting out of hand. Use the ‘Report’ link on each comment to let us know of abusive posts.
  • 8 Share what you know, and ask about what you don't.
  • 9 Don’t be a troll.
  • 10 Don’t reveal personal information about other commenters. You may reveal your own personal information, but we advise you not to do so.
  • 11 We reserve the right, at our discretion, to monitor, delete or choose not to post any comment. This may include removing or monitoring posts that we believe violate the spirit or letter of these rules, or that we otherwise determine at our discretion needs to be monitored, not posted, or deleted.

Welcome to the discussion.

New energy program helps homeowners

The Lodi Association of Realtors in partnership with the California Association of Realtors Housing Affordability Fund and green home contractor Greener Solutions has just announced a new energy program starting Jan. 1, 2015.

Posted: January 23, 2015
Comments (0)
more »

Loan Calculator

Your News

News for the community, by the community.

Mailing List

Subscribe to a mailing list to have daily news sent directly to your inbox.

  • Breaking News

    Would you like to receive breaking news alerts? Sign up now!

  • News Updates

    Would you like to receive our daily news headlines? Sign up now!

  • Sports Updates

    Would you like to receive our daily sports headlines? Sign up now!

Manage Your Lists