Oroville Sales Numbers Just Released

Here are your weekly home sales numbers for the Lake Oroville real estate market for the week ending 8/25/2011.

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.”

MLS Stats for Oroville Area  Week Ending Week Ending Weekly % 
  8/18/2011 8/25/2011 Change
# of Total Sales 16 5 -68.75%
# REO/Short Sales Sold (SS) 10 1 -90.00%
% Sales that are REO/SS 62.50% 20.00% -68.00%
Avg. List Price $175,786 $136,780 -22.19%
Avg. Sold Price $167,683 $127,600 -23.90%
Sold Price % of Listing Price 95.39% 93.29% 1.63%
Avg. Days On The Market 102 52 -49.02%
Total Sales Volume $2,682,930 $638,000 -76.22%
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