We had a significant drop in the numbers across the board this week when compared to the unusually strong numbers of the previous week. The home that sold for over $600,000 in the previous week helped set up the negative numbers this week. To me, the biggest disappointment in this week’s numbers is the number of Oroville area homes sales that closed escrow. Only 5 this week coming off a count of 16 the previous week is somewhat disheartening.  But, as I say: “One week does not make a market.”

Only nine Oroville area property sales this week, however I do expect the numbers to improve over the next two weeks as those escrows that were opened as the original tax credit window of November 30th was closing, should be completed toward the end of the month and into the first week in December.

Of particular note in these numbers is that the number of properties listed for sale continues to decline and has hit a new low since I began reporting Oroville sales to you.

On the foreclsoure and short sale front, we continue to these properties selling at a rate that is far larger than the percentage of these on the market, which will, if nothing changes, make them harder and harder to find.

Expanded Report