THE CALIFORNIA REAL ESTATE MARKET continues to gather steam: pending home sales rose again in April for the fifth straight month. According to a recently published report from the California Association of Realtors, pending home sales in April were up 13.6 percent when compared to April 2014.

April sales were off slightly when compared to March, down 0.6 percent, which is a little unusual, as sales activity typically increases between the months of March and April — according to CAR, the average increase from March to April is 1.7 percent as observed over the last seven years.

It does not appear the month-over-month drop in sales is because of a lack of buyer interest, but rather a lack of available properties. The average number of properties that received multiple offers increased in April to 71 percent, up sharply from 62 percent in March.

The average number of offers on properties that received multiple offers also has been steadily rising since January: 3.6 in April, up from 2.7 in March.

Competition among buyers is evident in the number of homes selling above asking price. More than a third — 36 percent — of homes sold in April sold above the asking price. Realtors are reporting that 41 percent sold for less than the asking price and 23 percent sold at the listed price.

If you are considering selling a home, listen to your Realtor and spend a few bucks to spruce up your property — that, and pricing it correctly, may pay off, as homes selling over the asking price in April sold on average for 10 percent above listed price. Conversely, homes selling below listed price sold on average 11 percent below.

Meanwhile, as the market improves distressed property sales (real estate owned, or REO, and short sales) continue to decline. The combined sales of all distressed properties in California dropped to just 8.1 percent in April; some counties, like San Francisco, are as low as 2 percent. Distressed property sales in Solano County dipped into the single digits for the first time since 2007, coming in at 9 percent of all property sales.

There seems no doubt that we are still in a pretty strong seller’s market — but does that mean a home will automatically sell just because there’s a sign in the front yard and it’s listed on MLS?

All you really have to do to answer that question is take a look at properties currently listed for sale on the MLS. I am a lender and not a Realtor so there is no doubt that I don’t track it as closely as the best agents, however I can tell you that certain properties languish and just don’t sell or sell for far less than originally listed.

Typically, a property does not sell either because it is overpriced or it has a serious defect — whether in condition or location — that is not reflected in the list price of the property.

One of the reasons for hiring a Realtor is because they have the experience and training to advise you on not only how to best price your home, but just as importantly, on what you need to do to show off its best attributes. The best agents have a track record of homes sold at or above their listing price. One of the biggest mistakes a seller can make is to not listen to the advice of their Realtor. If you think about it, most Realtors have experience in not only representing sellers but also with buyers — they know what buyers are looking for because they hear it firsthand from them.

Summer is finally upon us and it would seem the outlook for real estate is still very good. We have a few short months before fall is upon us. If current conditions prevail, 2015 will be a very good year for California real estate.

Guy Benjamin (CAL BRE License #01014834, NMLS 887909) writes a weekly column for The Herald, offering general information on real estate matters. As it is impossible to address all possibilities and variations, he will try to answer individual questions by readers who contact him at 707-246-0949 or guyb@fairwaymc.com.

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