This is a current listings report for the city of Beaumont, California, prepared on January 3rd, 2017. This housing report includes all types of Beaumont listings including active, pending, backup, canceled and recently sold homes.
Beaumont’s housing market continues to play hardball for buyers at the end of 2016 and the beginning of 2017. The active listings in Beaumont came in at 131 homes currently for sale in the MLS. But pending sales clocked in at 185 homes! (See Table Below) That’s more than 50 homes pending and in escrow compared to what is actually available to home buyers!
Here’s another way to look at it: To calculate the monthly supply of available homes in Beaumont we need the average per-month closed-sales count. That average number is 76.45 homes sold per month in Beaumont. Our current supply is 131 active homes for sale. If you divide 131 homes by the current selling rate of 76.45 homes you get 1.71 months of available home inventory in Beaumont.
Considering the benchmark for normal housing supply is 6 months, meaning the market is neither a seller’s market or a buyer’s market, we are at an unbelievable low of almost a month and a half of housing supply in Beaumont! Are you kidding me?! Even if you use the last month’s sales number of 66 (which happens to be smack dab in the middle of December and the slow holiday market) you are still looking at less than 2 month’s of inventory at 1.98.
Not only is that considered a strong seller’s market, it’s the kind of market that drives growth in building, it drives prices up, and it could drive interest rates up if the same is occurring nationally. Check out the MLS-reported numbers for yourself:
Beaumont Listing Data - January 2017
|TYPE OF LISTING/SALE||NUMBER REPORTED|
|Active Beaumont Listings||131|
|Pending Beaumont Sales||185|
|Closed Beaumont Sales in Last Month||66|
|Act Under Contract (Backup) Beaumont Listings||26|
|Canceled, Expired, Hold or Withdrawn Beaumont Listings||54|
Here are the monthly numbers from the MLS used in the calculations above. As you can see, Beaumont sales generally floated around the 70 mark with a strong month in June and the rest of the summer of 2016. The timeframe used is from February 2016 to January 2017 of all residential sales in Beaumont, California. Results calculated from 841 total listings.
Sales in Beaumont the Past 12 Months – Jan. 2017