Market Activity Update

By: Mark Wisterman

My 2013 Photo-Web-Revised

 

Here is the latest market activity report for the Lake Oroville real estate market.

I apologize that I am not leaving much in the way of comments today. I have a pretty full schedule today that forces me to keep my comments to a minimum.

If there is one number to look at over the past couple of  weeks it is the pending sales numbers at the bottom of the chart. After running in the 80-90 range for the past few weeks it is now below 70 for the past 3 weeks. Look for August closing of Oroville homes to be lower than last year. The overall economy is still facing an uphill battle and the real estate market will continue to reflect this.

 

MLS Stats for Oroville Area Week Ending Week Ending Week Ending % Change
7/18/2013 7/26/2013 8/1/2013 Previous Week
# of Total Sales 9 12 16 33.33%
# REO/Short Sales Sold (SS) 2 5 6 20.00%
% Sales that are REO/SS 22.22% 41.67% 37.50% -10.00%
Avg. List Price $112,156 $180,675 $141,419 -21.73%
Avg. Sold Price $110,622 $170,692 $137,390 -19.51%
Sold Price % of Listing Price 98.63% 94.47% 97.15% 2.83%
Avg. Days On The Market 46 90 49 -45.56%
Total Sales Volume $995,600 $2,048,301 $2,198,237 7.32%
# of Single Family Listings 195 195 183 -6.15%
# Foreclosed On Market 22 25 19 -24.00%
% of Foreclosed on Market 11.28% 12.82% 10.38% -19.02%
# Short Sales on Market 9 8 7 -12.50%
% Short Sales on Market 4.62% 4.10% 3.83% -6.76%
Days of Inventory Left 152 114 80 -29.62%
# of Pending Sales 67 63 65 3.17%