Lake Oroville Real Estate Market Week In Review

Well, with every technology upgrade comes a little bit of a learning curve.

It took me a little while to figure out how to report the Lake Oroville real estate market home sales report with the new blogging site that REALTY WORLD provided, but I think I got it figured out for this week at least.

I know that it has been a long time since I reported on market activity for the sale of Oroville area homes and the current levels of Lake Oroville area active listings on the market. Hopefully this new format is a little easier to digest.

What we are currently seeing in the Lake Oroville real estate market is a continued softness in the number of housing units that are being sold. The greater Oroville real estate market is currently on pace to see about 10% fewer Oroville home sales  this year than in 2013. While values have continued to rise, there seems to be some leveling off of the size of the increases. This is actually good news as I believe part of the reason for the slowdown in unit sales has to do with the run-up in valuations.

The other factor affecting unit sales is the nagging issue of  low inventories of homes available for sale in the Lake Oroville area real estate market. Although we have seen some increases in inventories, in my view we are probably between 75-100 homes short of what would be needed to create a more balanced market between  Lake Oroville area real estate buyers and Oroville area real estate sellers.