Merry Christmas, everyone. We had a very slight sales rebound last week in the Lake Oroville real estate market, but again not much on which to comment. I think the biggest news in the current market environment is that inventories are continuing to shrink. I have provided a chart at the bottom of this post which graphs the nature of the inventory trends. Be sure to click on the graph for a larger view of it. As a buyer you will want these inventories to show increases as this will keep prices more affordable. As a seller you should like the trend that has been developing since June. Shrinking inventories will result in higher prices over time.
| MLS Stats for Oroville Area | Week Ending | Week Ending | Week Ending | Week Ending | Weekly % |
| 11/23/2009 | 11/30/2009 | 12/7/2009 | 12/14/2009 | Change | |
| # of Total Sales | 5 | 10 | 8 | 9 | 12.50% |
| # REO/Short Sales Sold (SS) | 3 | 6 | 4 | 6 | 50.00% |
| % Sales that are REO/SS | 60.00% | 60.00% | 50.00% | 66.67% | 33.33% |
| Avg. List Price | $119,600 | $146,945 | $96,775 | $93,865 | -3.01% |
| Avg. Sold Price | $107,200 | $129,205 | $82,500 | $91,783 | 11.25% |
| Sold Price % of Listing Price | 89.63% | 87.93% | 85.25% | 97.78% | 14.70% |
| Avg. Days On The Market | 77 | 48 | 108 | 45 | -58.33% |
| Total Sales Volume | $536,000 | $1,292,050 | $660,000 | $826,050 | 25.16% |
| # of Single Family Listings | 342 | 341 | 336 | 327 | -2.68% |
| # Foreclosed On Market | 32 | 34 | 35 | 35 | 0.00% |
| % of Foreclosed on Market | 9.36% | 9.97% | 10.42% | 10.70% | 2.75% |
| # Short Sales on Market | 43 | 43 | 45 | 44 | -2.22% |
| % Short Sales on Market | 12.57% | 12.61% | 13.39% | 13.46% | 0.47% |
Click here or on chart for larger view
Click here for more stats
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