This is the first time I ran this since the early part of last December. I was curious to see how much improvement in the percentage of non distressed sales is. Back then, the numbers were Total properties in all categories above: 1,471; 353 are short sales 24.0%; 160 are REO’s 10.9%; total 513 distressed properties 34.9%. This is a 4.3% reduction in the percentage of distressed sales here, a very good thing.
But more impressive, compare the actual numbers. Granted inventory is way down, a 13.6% drop, but the short Sale and REO percentages show a much greater decliner, down 24.9% and 22.5%. Is this finally the light at the end of this too long tunnel we have been going through for the housing bubble, I think so.
Napa County Residential Properties including condos/townhomes/manufactured homes (Source: BAREIS)
- Listed for sale (284): lowest $72,000, highest $29,500,000, average price $1,976,845, median price $849,475, DOM 174
- Contingent sale pending (180): lowest $40,000, highest $6,900,000, average price $622,614, median price $399,000, DOM 113
- Sale pending (86): lowest $130,000, highest $3,925,000, average price $547,044, median price $384,500, DOM 103
- Sold last 6 months (721): lowest $57,000, highest $13,310,586, average price $574,181, median price $375,000 DOM 103
- Total properties in all categories above: 1,271; 265 are short sales 20.8%; 124 are REO’s 9.8%; total 389 distressed properties 30.6%
Calif. median home price: October 2012: $341,370 (Source: C.A.R.)
Calif. highest median home price by region/county October 2012: San Mateo, $819,000 (Source: C.A.R.)
Calif. lowest median home price by region/county October 2012: Lake County, $111,430 (Source: C.A.R.)
Calif. Pending Home Sales Index: October 2012: 120.2, up 4.3 percent from September’s 115.2.
Calif. Traditional Housing Affordability Index: Third quarter 2012: 49 percent (Source: C.A.R.)
Mortgage rates: Week ending 11/29/2012 30-yr. fixed: 3.32% fees/points: 0.8% 15-yr. fixed: 2.64 fees/points: 0.6% 1-yr. adjustable: 2.56% Fees/points: 0.5% (Source: Freddie Mac)
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