By: Mark Wisterman
Here we are once again to take a look at the latest weekly market activity for the Lake Oroville homes sales market.
As with nearly every week for the past two months there is certainly nothing earth-shattering going on in the Oroville real estate market. Thanks to a couple of sales in the higher price ranges, the average sold price and the total value of Oroville area homes sold looks to be improving. But be careful not to get fooled here. With so few homes selling, it is very easy for a couple of large sells to tilt the numbers.
If you are wondering where the sales numbers may go in the coming weeks keep your eye on the very last line of the chart. The number of pending sales is a great future indicator of the trend we will see 30-45 days from now regarding completed sales of Oroville homes. It has been flat for weeks now, indicating that we will not be seeing any significant increases in closed sales in the near term.
This is the 5th week in a row that the gap has grown between what an home in the Lake Oroville real estate market was originally priced at and at what price it actually sold. This gap may continue to increase as there is still a number of homes coming to market that have been……well, let’s just say,…………optimistically priced.
|MLS Stats for Oroville Area||Week Ending||Week Ending||Week Ending||% Change||6 Month|
|# of Total Sales||14||11||9||-18.18%||11|
|# REO/Short Sales Sold (SS)||7||5||1||-80.00%||4|
|% Sales that are REO/SS||50.00%||45.45%||11.11%||-75.56%||36.24%|
|Avg. List Price||$127,479||$140,205||$196,031||39.82%||$140,198|
|Avg. Sold Price||$127,007||$134,536||$189,617||40.94%||$135,787|
|Sold Price % of Listing Price||99.63%||95.96%||96.73%||0.80%||96.80%|
|Avg. Original List Price||$136,893||$151,800||$217,800||43.48%||$148,463|
|Sold Price % of Original Price||92.78%||88.63%||87.06%||-1.77%||92.92%|
|Avg. Days On The Market||123||56||83||48.21%||65|
|Total Sales Volume||$1,426,100||$1,479,900||$1,706,550||15.32%||$1,544,030|
|# of Single Family Listings||184||177||175||-1.13%||172|
|Days of Inventory Left||92||113||136||20.84%||120|
|# of Pending Sales||77||71||72||1.41%||77|
|Data compiled from the CRMLS multiple listing service for single family homes in the|
|Greater Oroville real estate market area including the areas of Oroville, Palermo, Concow,|
|Forbestown, Bangor, Berry Creek, Brush Creek, Honcut, Yankee Hill|
|Information deemed reliable but not guaranteed.|