It has be a wild, tumultuous year – how are the forecasts turning out? Everyone was a little light on their price predictions!
California Association of Realtors:
From October, 2012: CAR expects the 2013 median to rise 5.7%, to $335,000.
This week’s quote: C.A.R. says the median price in August was $441,330.
Jim the Realtor
At the end of 2012, I guessed that NSDCC sales would go up 10%, and the average pricing would increase 6%, to around $400/sf. This year, sales between Jan 1 and September 10th are up 12%, year-over-year, and average pricing is also up 12% to $422/sf (though price velocity has been hot lately):
|2013 Y-T-D Actual|
Hang on to your hats for September pricing, which is currently at $497/sf!
“Bruce Norris, founder of The Norris Group, who early in the year predicted that price appreciation would be considerably more aggressive here — pegging price gains of 20 percent in the Inland area real estate market for 2013.”