Another ho-hum week for Lake Oroville real estate market as sales activity continues to under perform. But once again we find that the inventory of Oroville homes for sale has dropped to another low.
If the current activity in the office of our Oroville market is any indication we may soon be seeing a change in these ... [Read More]
Another ho-hum week for Lake Oroville real estate market as sales activity continues to under perform. But once again we find that the inventory of Oroville homes for sale has dropped to another low.
If the current activity in the office of our Oroville market is any indication we may soon be seeing a change in these sales numbers. Our Oroville agents have been very busy this week showing property and writing offers. It is good to see that maybe the spring-like weather is bringing buyers out.
If you are thinking of selling, now might be the time to get your home on the market.
MLS Stats for Oroville Area
Week Ending
Week Ending
Week Ending
Weekly %
2/8/2010
2/15/2010
2/22/2010
Change
# of Total Sales
8
9
8
-11.11%
# REO/Short Sales Sold (SS)
5
4
5
25.00%
% Sales that are REO/SS
62.50%
44.44%
62.50%
40.63%
Avg. List Price
$156,674
$108,188
$116,644
7.82%
Avg. Sold Price
$149,800
$98,722
$109,500
10.92%
Sold Price % of Listing Price
95.61%
91.25%
93.88%
2.88%
Avg. Days On The Market
303
67
53
-20.90%
Total Sales Volume
$1,253,392
$973,692
$933,152
-4.16%
# of Single Family Listings
308
291
287
-1.37%
# Foreclosed On Market
36
35
31
-11.43%
% of Foreclosed on Market
11.69%
12.03%
10.80%
-10.19%
# Short Sales on Market
49
46
44
-4.35%
% Short Sales on Market
15.91%
15.81%
15.33%
-3.01%
Just another run-of the mill week for Lake Oroville home sales last week. The average home price in Oroville last week is skewed downward by the sale of an older mobile home that sold for $6,000. If you excluded that sale from last week’s numbers the average sale would have been almost $121,ooo, which is ... [Read More]
Just another run-of the mill week for Lake Oroville home sales last week. The average home price in Oroville last week is skewed downward by the sale of an older mobile home that sold for $6,000. If you excluded that sale from last week’s numbers the average sale would have been almost $121,ooo, which is in line with longer term market trends.
As it has been over the past few months, the number to pay close attention to is the inventory number. The number of homes for sale in the Oroville market are at their lowest point in nearly a year. Breaking below 300 for the first time since I began tracking the number. While a lower inventory of homes is normally good for prices, it can have an adverse effect on the market if the number gets too low. An inadequate number of homes for buyers to look at runs the risk of causing buyer frustration and shoving some of them back to the sidelines to wait for inventories to increase.
Well, enough from me today. Here are this week’s numbers.
MLS Stats for Oroville Area
Week Ending
Week Ending
Week Ending
Week Ending
Weekly %
1/25/2010
2/1/2010
2/8/2010
2/15/2010
Change
# of Total Sales
4
10
8
9
12.50%
# REO/Short Sales Sold (SS)
3
8
5
4
-20.00%
% Sales that are REO/SS
75.00%
80.00%
62.50%
44.44%
-28.89%
Avg. List Price
$75,975
$79,790
$156,674
$108,188
-30.95%
Avg. Sold Price
$68,475
$83,229
$149,800
$98,722
-34.10%
Sold Price % of Listing Price
90.13%
104.31%
95.61%
91.25%
-4.56%
Avg. Days On The Market
163
154
303
67
-77.89%
Total Sales Volume
$273,900
$830,599
$1,253,392
$973,692
-22.32%
# of Single Family Listings
320
324
308
291
-5.52%
# Foreclosed On Market
38
34
36
35
-2.78%
% of Foreclosed on Market
11.88%
10.49%
11.69%
12.03%
2.90%
# Short Sales on Market
50
52
49
46
-6.12%
% Short Sales on Market
15.63%
16.05%
15.91%
15.81%
-0.64%
Expanded Lake Oroville Sales Stats
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