MIDSUMMER MARKET: UNSEASONABLY HOT!
By Clint Freeman, Realtor, Consultant
(Coldwell Banker Best Realty)
The local housing market in Ridgecrest continues to remain brisk, upbeat and unseasonably hot; somewhat a reflection of what we are experiencing in the warm summer skies around us. Rates remain historically low which in turn has given buyers the stimulus to vigorously shop. A shifting market also has seen some sellers needing to quickly return multiple counter offers. And, when homes are correctly priced, buoyant interest is the result. Here are some further highlights of the present market: 1) Inventory-wise Ridgecrest remains in a sellers market. There are presently about 126 homes for sale. This is an uptick from last week when only 115 were offered. The absorption rate in July was 3.75 months and is expected that the ratio of homes selling will continue to outpace...