Mark Wisterman's Paradise & Lake Oroville Real Estate Blog

 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.

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.

Expanded Lake Oroville Sales Stats

 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.

 Here is this week’s report, dear readers. Really nothing in this week’s numbers of any major note for the Lake Oroville real estate housing market. We did, however have only 4 business days of data this week as a result of the county recorder’s office being close in observance of Martin Luther King Jr.’s birthday. REO/Short sales returned to their post holiday average with over half of the weekly sales attributed to “distressed”  sales.  

Hungry for more information? Click Here

I just added a new widget to this blog site in pursuit of my commitment to give you as much information as I can about the goings on in the Lake Oroville real estate market.

Now that I have finished compiling the sales statistics of the Lake Oroville housing market from the last 4+ years I can provide a more local perpective on the real estate market. 

Each month I will update the Northern California numbers as well as the Lake Oroville numbers. You now not only get to see what our local market is doing but can now compare how we are doing as compared to the rest of the north state. Be aware, though, that the Oroville housing numbers, being on a smaller scale, will show more volatility than the larger scale numbers of the Northern California region.  And, as I have said before, the trend is more important than the raw numbers.

With this added information at your finger tips, I now need YOU to provide ME with some information, and more importantly, your opinion.  Are the housing numbers I provide here helpful to you, or is it too much, or is it maybe not enough? I know this blog cannot be everything to everybody, but,  I want to be sure that what I provide you is what you feel you need to satisfy your hunger for all things real estate. Please leave your comments and let me know what you like as well as what you don’t like about this service. I appreciate your participation.

 Could it be that time is proceeding faster this year than last? It sure feels like it here, in the Lake Oroville real estatet market as this is already the second weekly market report of the new year.

The trend towards lower inventories continued last week as the number of home on the market ticked down another notch. This week’s stat of the week is the number of sales that involved a “distressed” home, those that are either bank owned or short sale priced, has shown a significant decline for 3 of the past 4 months. I don’t think this is any type of trend, but is an interesting stat, I think. 

 Wow, have I been a bad boy. I have neglected my duty to provide the Lake Oroville real estate market with the most up-to-date home sales stats. Not sure why I am behind, but here are the mumbers for the week endig January 4, 2010.

Maybe it was that mini-vacation I took that threw me off!!!

Stat of the week is the continuing decline is the number of Oroville homes currently listed for sale. The number hit a new low for the week. At the current sales pace this equates to approximately 6 month inventory of homes for Lake Oroville. 

Click Here for more historical info

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• Home-selling time sliced by half in 2009  lansner.freedomblogging.com)