Weekly Oroville Home Sales Roundup

This latest edition of the weekly Oroville home sales roundup shows that the Lake Oroville real estate market may finally be normalizing.

Price stabilization seems to be taking hold as monthly  median prices have barely moved over the past 12 months. Between April 1, 2014  and March 31, 2015 the median Oroville area home price (the midpoint price of all homes sold)  was $145,000. During this time, the highest monthly median price was September 2014 at $159,000 and the lowest price being recorded this March at $128,895. In addition, March was the first month since May 2013 that the monthly median price was lower in the current year than it was in the same month of the previous year.

There are two things that you should be watching very closely if you are trying to gauge the health of the Oroville real estate market. One of those things is Continue reading

Lake Oroville’s Christmas Spirit

As I said before: The Lake Oroville real estate market is certainly not short of it’s share of parades.

In case you missed it, or it was just too darned cold outside for you, here is a short video of the parade with only one small complaint. Can someone control the number of Santa Claus’s that are in the parade?  As one 4 year old girl put it. “There were 5 Santas in the parade and there is only supposed to be one Santa!”

 

MERRY CHRISTMAS EVERYONE

 

It’s Deja Vu All Over Again!!

Welcome to Deja Vu all over again for the national real estate market!!

Do you think that this industry will ever learn why the real estate market fell nearly into oblivion over the past 6 years? I don’t.  Here is the web page from CNBC that discusses the new Continue reading

Sunrise

What In The Realty World is Going On Here?

One of the biggest challenges for anyone thinking of buying or selling real estate in any market across the country is determining the condition of the market in their particular area. Certainly the same holds true for the Lake Oroville real estate market.

But where in the world of realty can you get accurate market  information? Zillow? Trulia? Maybe the nightly news.? Or better yet, how about Facebook? After all, if it is on Facebook, it must be true, right?

Your best resource for LOCAL market conditions is right here on this blog site. Over the past 5 years I have brought market updates, real estate advice,  and sometimes some fairly provocative opinions. It is, and always will be, my opinion that there is a HUGE need for accurate local real estate market information in the Lake Oroville real estate market. I also believe that there is a drought of such information out there. This is why I make providing real estate market information the top priority of this blog site. I am always looking to bring information to you in a variety of ways and from different perspectives so that you know what is REALLY going on.

Which brings me to my latest graph. This graph  illustrates the changes in the inventory of Lake Oroville homes for sale over the past 8 months at different pricing levels. What spurred me to research this is the fact that , although prices of homes that have sold has admittedly increased, the number of homes that are selling in the Oroville real estate market is on pace to be the first year since 2009 that the market  will be selling fewer homes in the current year than the previous year. Yes, you read that right. Regardless of what the “salespeople” are telling you about how “busy” they are, the truth is the home sales in the Oroville market are significantly behind last years numbers.

Because the “numbers guy” in me is always looking to explain what would cause this to happen, I jumped into the database to see what I could glean. The graph below is the result of my research and is the basis for the following opinions: Continue reading