Pacific Real Estate Market Reaches Price Cuts Bottom

Price reductions have decreased in the Pacific market, reaching a low that hasn't been seen since July. With the market heading toward a higher price point, there were two homes sold over the last 30 days. During the same time frame, Dmv county had the most of any other close-by neighborhood with 12 price reductions. However, a three-week upward trend in new listings is expected to come to an end over the coming weeks. The median sales price rose to $208,250, up from last week's $189,000. Even after the uptick in sales, an elevated 20 months of inventory tells us that Pacific is still a definite buyer's market.

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$289K   $275K   $199K  

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Demographic facts for Pacific:

  • 46.1% of the people in this area are renters.
  • 10-year job market growth is projected to be 22.8%.
  • The student per librarian ratio in this area is 14,350:1. (803:1 = national average)

Data reported through 1/11/2017

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RE/MAX MASTERS REALTY
julio Garcia Cruz Real Estate WKeller Williams Real Estate
Snapped 9 homes in this area
Ipro Real Estate
Snapped 5 homes in this area

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