San Bernardino real estate market stays hot while Southern California cools

Southern California homebuyers took their feet off the gas pedal last month, causing the region’s white-hot housing market to level off after six months of record-setting price gains.

The real estate market slowed down overall in Southern California, probably due to the soaring prices. The six-county Southern California median priced home has risen more than $80,000 a gain of nearly fifteen percent.  This in turn led to less homes being sold in August than in previous years.

Except in San Bernardino. According to a local realtor the city is bucking the overall trend.

Anthony Clayton, a real estate broker with Clayton & Associates and active in the City of San Bernardino said,   “The market in San Bernardino is still very strong, the fact is there are less homes going to market but they are selling just as fast.  Last month, August saw more sales than the previous three years in that month and no signs of slowing down. “

The answer as to why San Bernardino is not slowing as fast as other cities in the region in terms of home sales is simple – price. San Bernardino is one of the more affordable places to buy a home in the region.

Many people look at the number of sales in a market, but another important indicator is how fast the homes sell after being listed. Frankly, homes are just not staying on the market very long.

The residential real estate market naturally slows down in the fall and will get even slower into the holidays but will pick up again in the Spring and Summer.