How Big is the Market?

Nef Cortez

By Nef Cortez

 

The Diamond Bar residential real estate “Market”  is of interest to residents of Diamond Bar who are considering selling their home now or in the near future.  It is also of interest to anyone in the world who has an interest in buying a property in Diamond Bar. This “Market” consists of Single Family detached homes (SFRs), condominiums (condos), or townhomes (twnhms) that are currently listed for sale and are either in the Active or Available status. They can also be those properties in which there has been an accepted offer Active under Contract or Pending, and the buyers are performing their “due diligence” inspections.

Currently, there are a total of 230 properties that are “on the Market” in Diamond Bar. The property type mix is 168 SFRs, and 62 condos and townhomes. The combined valuation of these 230 properties is $236,535,453.00. That is a pretty BIG number.

The number of properties that have gone under contract and sold in Diamond Bar over the last twelve months is 579, or close to 50 closings per month. The mix of these closed transactions is 256 SFRs, and 323 condos and townhomes. The total valuation of the closed transactions over the last twelve months is over $300 million, with the  SFRs comprising the bulk of the transactions in terms of value ($268,229,652.00).

Each real estate transaction provides two commission earning opportunities for agents, because in more than 90% of the transactions, different agents represent the seller and the buyer.  The residential “market” is also quite BIG for real estate agents dedicating themselves to the industry.

This article was written by Nef Cortez who is a licensed Real Estate Broker, Ca BRE # 00560181, licensed since 1976. He can be reached for more information via e-mail at nefcortez@gmail.com, or website www.nefcortez.com. Please feel free to email any questions regarding real estate.

 

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