Area Real Estate News & Market Trends

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HUGE WEEK FOR UPPER PRICE RANGES,101 NEW PENDING HOMES, 20 HOMES WENT PENDING FIRST WEEK LISTED, MANY GOING BACK TO WORK

CURRENT ACTIVE HOMES FOR SALE 560 total*, 577 last week, 755 same week last year

"66 new listings last week vs. 72 in 2019", 20 new listings went pending first week

CURRENT HOMES PENDING AND IN ESCROW 505 total*, 485 last week, 464 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

5/19 to 5/25/2020 5/26 to 6/1/2020 vs. same week 2019,

OVER $800K 1 1 1

$600-$799K+ 6 7 1

$500-$599K 4 10 2

$400-$499k 5 10 5

$300-$399K 22 20 13

$200-$299K 29 38 25

$100-$199K 9 10 11

UNDER $100K 0 1 0

TOTAL ............... 79 101 61

FELL OUT

OF ESCROW 16 9

COMPARED TO THE SAME WEEK LAST YEAR WE ARE UP 40 NEW PENDING HOMES, NEW LISTINGS DOWN 6, CLOSED SALES DOWN 39, 20 HOMES PENDING FIRST WEEK LISTED, WE ARE STILL VERY WEAK ON HOME INVENTORY, Currently there are 560 active homes and only 505 pending which again is less slightly than 2019 . 66 new listings for the week and of those 20 went pending the first week listed, 72 in 2019. Only 53 closed sales for the week with 92 in 2019, 45% of homes sold for over $190.00 a sqft. 39% in 2019, 42% sold for over $300,000 compared to 37% in 2019. Conventional loans dominated again with 42% of buyers, only 12 cash transactions, 11 FHA and 3 VA. 77% of buyers needed a loan thus these homes required an appraisal of value. Of the just over $16 million in closed sales for the week, this weeks sales averaged $299,978.00 or $176.35 a sqft. with 87 days on market. This week 9 escrows failed and 57% of buyers received credits at escrow closing from sellers for repairs and or closing costs and 7 listing agents sold their own listings this week which is called "Double Ended". 51% of homes sold under list price and 15% got their list price and 34% got over list. 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, showing 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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