Below are the numbers for last week’s Real Estate activity in Yuba and Sutter Counties. Once again the sales fell behind new listings (including the “Back on Market” homes) just as they did with the recent weeks.
|Newly Listed||Back on Market||Price Increase||Price Lowered||Under Contract||Closed|
To view the homes in any of last week’s categories just click on the number.
August closes out with real estate sales up, or showing an increase over the last 3 months. Prices have increased significantly from the beginning of the year. Interest rates have remained historically low.
Inventory has been increasing. While there continues to be no sign of the fabled “shadow inventory” some news services were predicting would flood the market driving prices down again, there are bank owned units not coming to market.
Price reductions continue at a high rate. We feel this is not something to be alarmed about. Many homes are coming to market with an unrealistic asking price. Consult your Realtor® (or call us) to verify the market value of any home you are interested in.
Good news? Right now prices are stable, interest rates are low, and good deals are happening daily. Why would you not buy now?
Cautionary news? There have been some changes in the way loans can be made. This has slowed the market sales while everyone figures it out. We are not expecting to see a significant interest increase soon.
2014 is going to be another great year for people who know how to utilize the tools given them. First time buyers; beginning or experienced investor; trading up, downsizing: OPPORTUNITY IS KNOCKING! Will you answer?
Who do YOU know that might be thinking about buying or selling real estate in the near future? Now is the best time for action!