![]() In response, state housing authorities are stepping up pressure on all California cities to do their part in creating more housing, both through legislation and via the periodic Regional Housing Need Assessment (RHNA). To be able to afford the $860,000 median-priced Claremont home, a buyer with a conventional 30-year loan at 2.75% interest would need $172,000 down and would pay $3,850 per month including principal, interest, property taxes and homeowners insurance.Ī combination of low interest rates and scarce inventory created an environment with “too much money chasing too few homes.” This supply and demand balance problem exists nationwide but is particularly acute here in California, where communities have for decades failed to build enough homes. Even houses less that 1,500 square feet can sell in the $800,000 range depending on location. Zimmerman said the Piedmont Avenue home is somewhat of an outlier because one can not realistically find a single family home under $700,000. The most expensive was a $3,980,000 six-bedroom, eight-bath, 7,448-square-foot home in the 1000 block of East Pomello Drive. The least expensive single family residence was $650,000 for a three-bedroom, two-bath, 1,434-square-foot house on Piedmont Avenue, according to. Nineteen of these homes, including condominiums and townhomes, were priced less than $1 million, but only eight were less than the median price reported in June. Zimmerman wrote in his quarterly real estate roundup published recently by the COURIER.Īs of Tuesday, there were 31 homes listed for sale in Claremont via a popular website which gives the public access to the local multiple listing service. There are now just as many homes selling above $800,000 as there are below, with an average sale price of $906,756,” Mr. The biggest jump came in the 30% increase in prices. Prices continued to rise over Q1 while the number of homes sold in Q2 jumped to 127-a nearly 70% increase in sales compared with the same period last year. “If you thought Q1 was crazy, Q2 kept the trend going. Zimmerman said on Wednesday, adding that any home that is attractive and well priced receives multiple offers and sells for substantially above asking price. “The second quarter was even stronger than the first,” Mr. Ryan Zimmerman, broker associate with Wheeler Steffen Sotheby’s International Realty told, the COURIER in April that the first three months of 2021 were the craziest the Claremont housing market has ever seen. The median price for Claremont condominiums in June was $630,000 based on 15 sales, a 27.9% price increase. Thirty-three of those sales were single family homes with a median price of $860,000, or $453 per square foot, an 18% increase. ![]() By Steven Felschundneff | frenetic Claremont housing market continues to strain the budgets of would-be home buyers as year over year price gains exceed 20% this summer.Īccording to a report from DQ News, Claremont’s median home price in June 2021, the latest month for which data is available, was $731,000 based on 57 sales-a 23.4% increase over 2020.
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