Here are your weekly home sales numbers for the Lake Oroville real estate market for the week ending 8/25/2011.
We had a significant drop in the numbers across the board this week when compared to the unusually strong numbers of the previous week. The home that sold for over $600,000 in the previous week helped set ... [Read More]
Here are your weekly home sales numbers for the Lake Oroville real estate market for the week ending 8/25/2011.
We had a significant drop in the numbers across the board this week when compared to the unusually strong numbers of the previous week. The home that sold for over $600,000 in the previous week helped set up the negative numbers this week. To me, the biggest disappointment in this week’s numbers is the number of Oroville area homes sales that closed escrow. Only 5 this week coming off a count of 16 the previous week is somewhat disheartening. But, as I say: “One week does not make a market.”
MLS Stats for Oroville Area
Week Ending
Week Ending
Weekly %
8/18/2011
8/25/2011
Change
# of Total Sales
16
5
-68.75%
# REO/Short Sales Sold (SS)
10
1
-90.00%
% Sales that are REO/SS
62.50%
20.00%
-68.00%
Avg. List Price
$175,786
$136,780
-22.19%
Avg. Sold Price
$167,683
$127,600
-23.90%
Sold Price % of Listing Price
95.39%
93.29%
1.63%
Avg. Days On The Market
102
52
-49.02%
Total Sales Volume
$2,682,930
$638,000
-76.22%
Here are the latest foreclosure reports for the real estate markets of Lake Oroville, Ca, Chico CA, Paradise CA, Yuba City Ca and Marysville, CA.
These reports still show what has been true for the past couple of years- a very volatile market with not much in the way of any long term trend that could ... [Read More]
Here are the latest foreclosure reports for the real estate markets of Lake Oroville, Ca, Chico CA, Paradise CA, Yuba City Ca and Marysville, CA.
These reports still show what has been true for the past couple of years- a very volatile market with not much in the way of any long term trend that could assist us all in anticipating where the market is going from here. This uncertainty, as well as rampant unemployment, is doing its best to keep many buyers on the sidelines, as they seem to be waiting to the bottoming in pricing.
If you are one of these buyers be sure that you are keeping a close eye on trends on prices and interest rates as you wait. Remember that the Federal Reserve has pulled out of the mortgage market and are no long artificially deflating interest rates. Rates are going to react much more quickly to changes in the economy than at anytime in the past 2 years without the government interference that has kept them low. Believe me when I say I understand the fence-sitting mentality as not much this economy has to offer feels very good right now. But also believe me when I say that nobody is going to ring a bell at the bottom of interest rates. Is it a good time to buy? With these prices and interest rates….yes it is. Will tomorrow be a better time to buy???? Nobody knows for sure. And that uncertainty is what is holding back a recovery in the market.
Click Here if you would like to view and/or print the report
