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Ramona Real Estate Wrap: Good Supply and Lower Prices, Time to Buy

Snapshot of the Ramona real estate market.

By Nikki Coppa http://www.callnikki.com/
By Nikki Coppa http://www.callnikki.com/

Written By Nikki Coppa

Ramona closed out 2013 at a 17% combined sale price gain over 2012. This fell short of both the 20% gain in East County and the 19% gain in San Diego County as a whole. The highest Santee sale reported in 2013 was $1,250,000.

Historically, inventory levels increase pretty dramatically in January. We have yet to see that swell, in fact, Ramona's inventory has decreased as has inventory throughout the county. We also typically see a decrease in the number of units sold in December. In Ramona and throughout the county the December closings were virtually identical to the number of closings in November. So much for historical trends!

Buyers that have home ownership on their list of New Year's resolutions would be wise to jump in the hunt now. Despite the inventory decrease, Ramona is still supporting a healthy 3.8-month supply of combined inventory, which translates to more buyer choices and motivated sellers.

The current inventory mix in Ramona is comprised of 2% foreclosures, 7% short sales and 91% equity sales. 

By Nikki Coppa, Realtor® • DRE Lic # 01266573 • (619) 274-1426

Statistics compiled Jan-14 using Sandicor data. Information deemed reliable but not guaranteed.

Also read Foreclosed Homes in Ramona: Buy For $100,000 Less Than the Average

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