Just another run-of the mill week for Lake Oroville home sales last week. The average home price in Oroville last week is skewed downward by the sale of an older mobile home that sold for $6,000. If you excluded that sale from last week’s numbers the average sale would have been almost $121,ooo, which is in line with longer term market trends.
As it has been over the past few months, the number to pay close attention to is the inventory number. The number of homes for sale in the Oroville market are at their lowest point in nearly a year. Breaking below 300 for the first time since I began tracking the number. While a lower inventory of homes is normally good for prices, it can have an adverse effect on the market if the number gets too low. An inadequate number of homes for buyers to look at runs the risk of causing buyer frustration and shoving some of them back to the sidelines to wait for inventories to increase.
Well, enough from me today. Here are this week’s numbers.
| MLS Stats for Oroville Area | Week Ending | Week Ending | Week Ending | Week Ending | Weekly % |
| 1/25/2010 | 2/1/2010 | 2/8/2010 | 2/15/2010 | Change | |
| # of Total Sales | 4 | 10 | 8 | 9 | 12.50% |
| # REO/Short Sales Sold (SS) | 3 | 8 | 5 | 4 | -20.00% |
| % Sales that are REO/SS | 75.00% | 80.00% | 62.50% | 44.44% | -28.89% |
| Avg. List Price | $75,975 | $79,790 | $156,674 | $108,188 | -30.95% |
| Avg. Sold Price | $68,475 | $83,229 | $149,800 | $98,722 | -34.10% |
| Sold Price % of Listing Price | 90.13% | 104.31% | 95.61% | 91.25% | -4.56% |
| Avg. Days On The Market | 163 | 154 | 303 | 67 | -77.89% |
| Total Sales Volume | $273,900 | $830,599 | $1,253,392 | $973,692 | -22.32% |
| # of Single Family Listings | 320 | 324 | 308 | 291 | -5.52% |
| # Foreclosed On Market | 38 | 34 | 36 | 35 | -2.78% |
| % of Foreclosed on Market | 11.88% | 10.49% | 11.69% | 12.03% | 2.90% |
| # Short Sales on Market | 50 | 52 | 49 | 46 | -6.12% |
| % Short Sales on Market | 15.63% | 16.05% | 15.91% | 15.81% | -0.64% |
Expanded Lake Oroville Sales Stats
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