REDDING REAL ESTATE STATS FOR DECEMBER
INDUSTRY NEWS, SHASTA COUNTY, TIPS FOR BUYERS, TIPS FOR SELLERS
January 12th, 2009
There is a noticeable trend that developed in 2008 regarding sales prices in 
the Greater Redding/Shasta County area: the cheaper your asking price, the more likely you will successfully sell your home! December sales numbers drive this point home (pun intended)!
146 homes sold in December 2008 according to the Shasta MLS. 120 of the homes that sold were listed at or below $300,000. That equals 82% of the market activity. Overall, the number of homes sold last month were only slightly lower than the 152 homes sold in November. No homes priced between $550,000 and $650,000 or over $850,000 sold in December. Approximately 2000 homes sold during all of 2008 in the Greater Redding area.
40 homes sold were priced between $150,000- $200,000, the most active market segment. Based on sales figures for the $450,000-$500,000 price range, only 2 of the 77 homes for sale went into escrow. That translates to more than 38 months of inventory in this price bracket.
CAR’s state economist is predicting a 12% increase in units sold statewide for 2009 and a 6% decline in prices. This prediction is based on the tremendous rollback in real estate prices in 2008 and interest rates sinking to historic lows. The door is wide open for first-time buyers that were frozen out of the market during the run up in prices from 2003-2006. Ironically, buyers were clamoring to buy when prices were escalating through the stratosphere but are sitting it out during the current buyers market.
Go figure!
530-224-6767 or 530-941-7492
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL ESTATE PROFESIONALS GMAC
QUARTER CENTURY LOCAL REAL ESTATE EXPERIENCE
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