Area Real Estate News & Market Trends

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PER 2019, GOOD WEEK FOR INVENTORY 15 MORE NEW LISTINGS, 30 WENT PENDING FIRST WEEK, 19 NEW ESCROWS AND CLOSINGS UP BY 17 OVER 2019

CURRENT ACTIVE HOMES FOR SALE 448 total* record low, 434 last week, 786 same week last year

"80 new listings last week vs. 65 in 2019", a record 30 new listings went pending first week

CURRENT HOMES PENDING AND IN ESCROW 522 total*, 531 last week,386 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

10/6 to 10/12/2020 10/13 to 10/19/2020 vs. same week 2019,

OVER $800K 2 1 0

$600-$799K+ 1 2 3

$500-$599K 3 3 1

$400-$499k 10 12 7

$300-$399K 23 24 11

$200-$299K 16 35 20

$100-$199K 3 4 11

UNDER $100K 0 1 0

TOTAL ............... 60 83 64

FELL OUT

OF ESCROW 16 22

Currently there are 448 active homes which is 43% down from 2019 stats, 522 pending which we had 386 in 2019. 80 new listings for the week and 30 went pending the first week listed, 65 in 2019. 67 closed sales for the week with 50 in 2019, 66% of homes sold for over $190.00 a sqft. 36% in 2019, 51% sold for over $300,000 with 42% in 2019. Conventional loans dominated again with 54% of buyers, 10 cash transactions, 8 FHA, and 7 VA. Of the just over a $22 million in closed sales for the week 48% of buyers got credits from sellers at close of escrow for buyers closing costs, this weeks sales average dropped to $327,663 or $200.68 a sqft. with a very short 73 days on market. This week 22 escrows failed and an amazing 7 listing agents sold their own listings this week which is called "Double Ended". 42% of sellers sold under list price and 29% got list price and 32% got over list.

California housing market outperforms expectations, breaking record high median price for fourth straight month, C.A.R. reports

- Existing, single-family home sales totaled 489,590 in September on a seasonally adjusted annualized rate, up 5.2 percent from August and up 21.2 percent from September 2019.

- September’s statewide median home price was $712,430 up 0.8 percent from August and up 17.6 percent from September 2019.

- Year-to-date statewide home sales were down 3.7 percent in September. Nationwide: For the week ending October 10, the National Association of Realtors Housing Market Recovery Index rose well above its pre-pandemic baseline, more sellers are listing, and asking price growth dipped, its first drop since mid-April

The current Pandemic may drive the baby boomers out of the congested more vulnerable City life sooner than later.

As Real Estate Professionals we have implemented stringent CDC Compliance Guidelines requiring homes listed to be sanitized between showings or inspectors, we are still actively listing and selling properties.

Call GENESIS Real Estate today!

Don J. Wilkins

Certified Probate, Trust & 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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