- Lake County News reports
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Lake County home sales pick up in April; prices hold steady
LAKE COUNTY, Calif. – The sale of single family residences in April increased by nearly 27.5 percent over March sales, according to the Lake County Association of Realtors.
In April 65 homes sold versus fifty one 51 in March, LCAOR reported.
“Inventory levels were up in April.” commented LCAOR President Rick White. “There were approximately 368 single family residences available in April which was up from 284 in March. The increased inventory should help the normally busy summer months’ activity.”
The association's report said the number of sales continues to lag behind previous years’ sales but the median price held steady at $155,000 when compared to March 2014 sales.
Year to date, the median sales price also is $155,000, which is up from the 2013 median sales price of $149,000, the association reported.
The sales of distressed homes – those which are either sold after a foreclosure or via a short sale – continue to decrease when compared to 2013 numbers.
Distressed sales made up 26.15 percent of the April 2014 sales whereas in April 2013 they made up 44.6 percent of the sales, the report showed.
More than 35 percent of the April 2014 sales were financed with cash, which was up from 23.5 percent in March 2014 but nearly identical to the April 2013 numbers, according to LCAOR.
The Multiple Listing Service records sales by area as well as countywide.
As of May 13, the Buckingham area has the highest median sales price at $414,000 (seven sales year to date), the MLS showed.
Clearlake N-NW has the lowest median price at $98,500 but has a total of 19 sales, according to the MLS, while the Hidden Valley Lake area has a total of 44 sales with a median price of $249,900.