Fontana’s market took a very hard fall, and a few years passed before growth began to happen. Once it started, it didn’t stop. Homes used to be valued over $400,000. They fell significantly, but averages are currently a little below $350,000.
They may return to their previous highs, but it could take a few years. The forecasted growth is predictable, but slow. If you want to hold out until your property value is as high as it was before, you could be waiting for a while.
The market is less than healthy, and this is because it’s failed to normalize. It stagnated for a significant period of time, and then values started suddenly climbing up. It’s hard to maintain sudden changes, and this impacts the stability of the market. Although foreclosures rates are at half the national average, the market needs to regulate a little more before it can be considered truly healthy.
Fontana is a strong sellers’ market. Less than 8% of homes wind up selling at a price cut, and in an area where homes often list for more than their market value, the impact of that price cut is rarely negative.
If you’re having a hard time selling your property in a sellers’ market like Fontana, it’s almost always because your house isn’t the kind of house that the modern buyer wants. This can be because your home is outdated, or because it needs a lot of work before it would be considered “move-in ready”.