After the real estate collapse, market value was slow to grow in San Jacinto. Eventually, things began to turn around for the better. In riverside county San Jacinto is still getting its strength back, but the trends are promising. The growth is happening at a faster rate than it is in surrounding areas, although it took a little longer to get started. The average property value being shy of $250,000 makes San Jacinto’s homes affordable, and buyers have taken notice.
San Jacinto’s market is practically on fire. It’s one of the hottest markets in the region. All of the advantages are stacked for sellers. Less than 6% of homes are seeing price cuts, which is half the amount of the surrounding areas. Homes in San Jacinto practically sell themselves. Listing times are reasonable on desirable properties, and the buyers are lining up around the block. This kind of market is hard to keep balanced, so its health is considered to be technically below stable.
There are two kinds of sellers that may not feel encouraged by the state of the market: homeowners with significantly damaged properties, and homeowners facing foreclosure. Since one in every 5,000 San Jacinto homes will enter foreclosure every year, which is double the national average, it’s safe to say that foreclosure is a real problem. Foreclosure homes often also fall into the category of homes that need repairs, as struggling homeowners typically cannot afford the upkeep on their properties. If you need an immediate solution and you can’t afford to put work into your home, it’s easy to find a workaround.