VICTORVILLE, Calif. — Mr. Joseph W. Brady, CCIM, SIOR and President of Joseph W. Brady, Inc., the Mojave River Valley’s longest-standing, full-service commercial brokerage firm is pleased to announce that home sales throughout the entire Mojave River Valley region increased by 0.71% in the number of units compared to 2018, but had a 7.3% increase in total volume over 2018.
In 2019, within the High Desert (Mojave River Valley) region that we cover, including Newberry Springs (North), Wrightwood (South West), Lucerne Valley (East) and all the unincorporated area within those areas including the five (5) incorporated cities, all communities between them recording nearly $1,875,869,250.00 worth of sales and nearly 7,290± homes closed escrow in 2019 compared $1,748,141,000.00 and nearly 7,238± homes in 2018. The difference was 52 homes but a total increase of nearly $127,728,250.00.
“When compared, the 2005 data (from Corelogic/Dataquick) where the Mojave River Valley region sold 16,511± homes and the 7,290± homes in 2019 and in 2005 the High Desert region (Mojave River Valley) we sold nearly $4,536,491,000.00, we are down 55.84% from that sales volume and nearly $2,660,621,750 less than what we were in 2005.
If you compare the period in 2005 where the Valley sold nearly $4,536,491,000, we are still down 58.64% in total sales volume,” according to Brady.
When you take a look at the difference between 2005 and 2019 total resale numbers in volume and if we estimate a 5% commission paid on all those residential transactions, the High Desert (Mojave River Valley) Real Estate Industry is losing nearly $133,031,087.00 in commissions, and more importantly that serious reduction has an impact on home inspection companies, home warranty companies, escrow companies, title companies, pest control companies, repairs that would be done on homes, etc.
This year in our contract for data with Corelogic, provided by DQ News, we also took a look at a comparison of the how the Mojave River Valley compares to the Antelope Valley (cities of Palmdale, Lancaster, Rosemond, Mohave, Little Rock, Pearblossom, Lake Los Angeles and Acton) which has about the same number of people and typically the same number of transaction on an annual basis.
What we found rather interesting is when we compared 2005 in the Antelope Valley, they sold 15,103± homes for a total consideration of $4,893,364,500. In 2019 they sold 6,599± homes for a total consideration of $2,132,398,500. Their total sales were 12.03% higher than our region but the Mojave River Valley out sold them by 691 total units, according to Brady.
For those wishing to see a copy of this data, please The Bradco Companies website, please visit www.thebradcocompanies.com.