Area Real Estate News & Market Trends

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INVENTORY AND PENDING SALES MIRROR 2021 SAME WEEK, NEW LISTINGS DOWN 9, CLOSINGS DOWN 10 AVERAGING A LOW $383,458 OR $233.77 A SQFT. COMPARED TO $344,108 OR $200.71 SAME WEEK 2021

CURRENT ACTIVE HOMES FOR SALE 293 total, 312 last week, 296 same week last year

48 new listings last week vs. 37 in 2021", 12 new listings went pending first week compared to 14 last year

CURRENT HOMES PENDING AND IN ESCROW 378 total*, 353 last week, 396 last year same week

***total numbers are for Shasta County Residential sales only, East to Whitmore, north to Lakehead and West to Igo, South to Hooker Creek which is a portion of Tehama County

NEW PENDING PROPERTIES BY PRICE SEGMENT

1/4/2021 to 1/10/2022 1/11 to 1/17/2022 vs. same week 2021

OVER $800K 2 1 1

$600-$799K+ 3 5 1

$500-$599K 13 7 4

$400-$499k 10 17 4

$300-$399K 12 20 27

$200-$299K 9 11 15

$100-$199K 3 2 8

UNDER $100K 0 1 1

TOTAL ............... 53 65 63

FELL OUT

OF ESCROW 20 8 8

Current weeks seasonally low Active home inventory continued at 293 homes compared to the similar 296 last year. There are 378 homes pending compared to 396 in 2021. Only 65 new pending sales this week with 63 in 2021. 48 new listings up from 37 in 2021 and 12 of those went right into escrow. 42 closed sales for the week with 32 in 2021, 91% of homes sold for over $190.00 a sqft. which reflects in higher prices with only 59% in 2021, a huge drop to 65% of homes sold for over $300,000 which was 53% in 2021. Conventional loans dominated but dropped from 76% of buyers to 51%, 7 cash transactions, 8 FHA, 5 VA and 1 USDA. Of the just over $16 million in closed sales for the week with a low average of $383,458 or $233.77 a sqft. with 85 days on market compared to 2021 which was $344,108 or $200.71 sqft. and 103 days on market same week. 26% of sellers sold over list and 23% at list price and 23% sold under list price. Only 47% of buyers braved it and requested seller credit them for closing costs or repairs which was 50% in 2020. This week 8 escrows failed which is comparable to the 8 that failed last year. Only 3 listing agents sold their own listing compared to 4 last year. A report done by others states, "What Americans With Disabilities Need in Retirement" People with intellectual and developmental disabilities (IDD) are living longer, and their aging challenges reflect some failures of American society. Many find satisfaction in work but worry about keeping their sense of purpose and accomplishment, social connections made at work, and independence when they retire. An Australian socially inclusive program brings together disabled and non-disabled people for activities like singing in a choir or volunteering at a soup kitchen, for example. It’s a way for those with IDD to avoid being siloed from the larger community as they move into retirement and helps them stave off loneliness and find friends. Researchers have found that both the disabled and the non-disabled people in such groups benefited from spending time together.

Call GENESIS Real Estate today!

Don J. Wilkins

Certified Probate & Seniors specialist

Broker- #01229994

direct 530-227-9639

fax 530-214-3484

3335 Placer St. #227

Redding, CA 96001

donwilkins@shasta.com

http://www.GENESISRealEstate.org

"Home to New Beginnings"

July 31, 2017

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