By: Mark Wisterman
Here is the latest market activity report for the Lake Oroville real estate market.
I apologize that I am not leaving much in the way of comments today. I have a pretty full schedule today that forces me to keep my comments to a minimum.
If there is one number to look at over the past couple of weeks it is the pending sales numbers at the bottom of the chart. After running in the 80-90 range for the past few weeks it is now below 70 for the past 3 weeks. Look for August closing of Oroville homes to be lower than last year. The overall economy is still facing an uphill battle and the real estate market will continue to reflect this.
|MLS Stats for Oroville Area||Week Ending||Week Ending||Week Ending||% Change|
|# of Total Sales||9||12||16||33.33%|
|# REO/Short Sales Sold (SS)||2||5||6||20.00%|
|% Sales that are REO/SS||22.22%||41.67%||37.50%||-10.00%|
|Avg. List Price||$112,156||$180,675||$141,419||-21.73%|
|Avg. Sold Price||$110,622||$170,692||$137,390||-19.51%|
|Sold Price % of Listing Price||98.63%||94.47%||97.15%||2.83%|
|Avg. Days On The Market||46||90||49||-45.56%|
|Total Sales Volume||$995,600||$2,048,301||$2,198,237||7.32%|
|# of Single Family Listings||195||195||183||-6.15%|
|# Foreclosed On Market||22||25||19||-24.00%|
|% of Foreclosed on Market||11.28%||12.82%||10.38%||-19.02%|
|# Short Sales on Market||9||8||7||-12.50%|
|% Short Sales on Market||4.62%||4.10%||3.83%||-6.76%|
|Days of Inventory Left||152||114||80||-29.62%|
|# of Pending Sales||67||63||65||3.17%|