LAKE COUNTY, Calif. – October saw little change in Lake County real estate sales prices, while at the same time, despite the Valley fire, sales activity was above normal in part of the south county.
The Lake County Association of Realtors, or LCAOR, reported that the October median sales price for a single family residence remained virtually the same as September’s median.
The October median was $211,250 compared to $211,500 in September, the association reported.
Year-over-year median pricing increased by 30 percent, rising from the October 2014 median of $162,500.
“The real estate community is still cautious about the effects of the fires this summer, especially the Valley fire,” said LCAOR President Yvette Sloan. “In the Hidden Valley Lake area we saw a lot of activity, which was somewhat surprising given all that happened. There were a total of 16 sales in October which tops the yearly average of 13 sales per month.”
Countywide there were 72 single family residential sales in October, which was up from
65 sales in September, the association reported.
The increase was a bit more significant in the year-over-year comparison, when 63 homes sold in October of 2014, based on the report.
LCAOR said the median days on market decreased from 91 days in September to 78 days in October which was comparable to 75 days in October 2014.
Cash sales made up 36.1 percent of the sales rising from 32.3 percent of the sales in September and 31.75 percent of the sales in October 2014, the report said.
Conventional loan financing made up 30.6 percent of the sales compared to 32.3 percent in September and 34.9 percent in October 2014. LCAOR said distressed sales continued their downward trend with only 12.2 percent of the sales in that category compared to 16.9 percent in September and 22.2 percent in October 2014.
On a statewide basis the California Association of Realtors reported that existing, single family home sales totaled 403,510 in October, down 5.1 percent from September but up 1.3 percent from October 2014. This marked the seventh straight month that statewide sales were above the 400,000 mark.
The median sales price was $475,990, down 1.3 percent from September but up 5.7 percent from October 2014, according to the LCAOR report.
NUMBERS AT A GLANCE
Lake County – October 2015
Median price: $211,250
Median days to sell: 78
Units Sold: 72
Lake County – September 2015
Median price: $211,500
Median days to sell: 91
Units Sold: 65
Lake County – October 2014
Median price: $162,500
Median days to sell: 75
Units Sold: 63
Lake County's real estate prices hold steady in October
- Lake County News reports
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