In the market for single story homes (ranch, multi level, split entry) between 1,000 and 1,800 sq. ft. under 25 years of age the median list price is $220,000 and the average list price is $217,256. The average sale price is $207,961 and the median sale price is $215,000. There is 10 months of inventory in Lodi and sales have declined with a drop over the winter months. 43% of sales of similar properties have been bank owned. All bank owned inventory has been sold. The odds of selling a home in the first month is 10%. If you are thinking of selling get ready for the spring market. Very competitively priced homes and discounted properties are selling the quickest.
February 21, 2012