Mark Wisterman's Paradise & Lake Oroville Real Estate Blog

Here are the numbers for last week’s Lake Oroville real estate market. This is the third week in a row that the number of Oroville home sales has been in single digits, and the 7th week out of the past 8 for this. With inventories still low, and a lot of that inventory in disrepair it is becoming more and more difficult to find properties for Oroville area buyers.  All of my team members have pools of buyers that they simply cannot find decent properties to show them.

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 Another ho-hum week for Lake Oroville real estate market as sales activity continues to under perform. But once again we find that the inventory of Oroville homes for sale has dropped to another low. 

If the current activity in the office of our Oroville market is any indication we may soon be seeing a change in these sales numbers. Our Oroville agents have been very busy this week showing property and writing offers. It is good to see that maybe the spring-like weather is bringing buyers out.

If you are thinking of selling, now might be the time to get your home on the market.

A not so funny thing happened to the Paradise, CA real estate market last week. Only two sales to report from Paradise this week.

The one encouraging thing to take from the week’s meager numbers is the fact that the average Paradise home sale was over $250,000 and the average time that each of these two homes were on the market was only 24 days. From the seller’s side of the equation it is good to see higher prices homes selling quickly.  Hopefully we will have more substantial numbers to discuss next week.

 Sales for the Lake Oroville real estate market took a turn for the better this past week. The average sold price was the highest it has been in a very long time thanks to the sale of a couple homes that had been on the market for quite some time. The sale of these two particular homes was also the reason for the nearly doubling of the “days on the market” time. One of the homes had been on the market 928 days and the other had been for sale for 897 days.

Once again, though, the number of the week to lookout for is the number of Oroville homes currently on the market. This number has hit another new low for this blog site and is threatening to go under 300 for the first time in probably two years.

 It seems that this week’s Lake Oroville real estate market report reflects some ongoing reporting issues the local REALTORS are having with our new multiple listing service system.

It looks as though that the inventory of unsold homes is beginning to increase slightly. This may be an effect of some sellers trying to get a head start on what most people think is the peak selling season of Spring. Hopefully we can get the bugs worked out of our new MLS system soon. Watch for the weekly sales numbers for the Paradise real estate market later this week.

Welcome to all of you interested in what is happening in the Paradise, California real estate market. As I have been doing for the Lake Oroville real estate market for the past 8 or nine months, I will be bringing these numbers to you on a weekly basis.  As part of this reporting I will try to point out anything of interest in the report each week in order to try to bring the proper perspective to market conditions.

I always welcome your comments and suggestions on this or any of my blogs posts, so don’t be bashful. Come join in the fun.

Don’t panic everyone!!!! These numbers do not appear to be accurate this week due to the Oroville Association of REALTOR®, The Chico Association of REALTORS®, and Paradise Association of REALTORS® switching to a new multiple listing service. It appears that some sales have not yet been reported into our new system by some of the Lake Oroville REALTORS®. By the looks of the numbers, I certainly hope that is the case.

Don’t spend much time on this but be sure to check back in next Tuesday to see how we are really doing.

 Merry Christmas, everyone. We had a very slight sales rebound last week in the Lake Oroville real estate market, but again not much on which to comment. I think the biggest news in the current market environment  is that inventories are continuing to shrink. I have provided a chart at the bottom of this post which graphs the nature of the inventory trends.  Be sure to click on the graph for a larger view of it.  As a buyer you will want these inventories to show increases as this will keep prices more affordable. As a seller you should like the trend that has been developing since June. Shrinking inventories will result in higher prices over time. 

Click here or on chart for larger view

Click here for more stats

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Ok, I’m back on schedule with my weekly Lake Oroville real estate market report.

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