By: Mark Wisterman
We meet, once again, to review the latest weekly real estate market information for the Lake Oroville real estate market.
The number of Oroville home listings that sold this week continue to show increases as does the average price for Oroville real estate market listings that have sold. With $1.75 million in total sales of Oroville homes listed, this was also an above average week for sales volume.
So what the heck is the cause of all these increases? Take a look at the numbers highlighted in red. The number of homes in the greater Lake Oroville area available for sale continues to shrink. Down over 2.5% from the previous week. It is this number alone, in my opinion, that is driving the rest of the numbers. In my next post I will spend a little time discussing these low inventory numbers and how I think it is going to affect the Oroville, CA real estate market in the short term and what buyer’s and seller’s can do in the face of the changing real estate market in Oroville.
|MLS Stats for Oroville Area||Week Ending||Week Ending||Week Ending||% Change|
|# of Total Sales||9||10||12||20.00%|
|# REO/Short Sales Sold (SS)||3||5||6||20.00%|
|% Sales that are REO/SS||33.33%||50.00%||50.00%||0.00%|
|Avg. List Price||$144,367||$132,915||$153,700||15.64%|
|Avg. Sold Price||$140,861||$124,940||$145,925||16.80%|
|Sold Price % of Listing Price||97.57%||94.00%||94.94%||1.00%|
|Avg. Days On The Market||64||190||186||-2.11%|
|Total Sales Volume||$1,267,750||$1,249,399||$1,751,100||40.16%|
|# of Single Family Listings||150||149||145||-2.68%|
|# Foreclosed On Market||19||17||21||23.53%|
|% of Foreclosed on Market||12.67%||11.41%||14.48%||26.94%|
|# Short Sales on Market||9||5||6||20.00%|
|% Short Sales on Market||6.00%||3.36%||4.14%||23.31%|