LAKEPORT >> The Lake County Association of Realtors (LCAOR) reported that the median sales price for October 2016 exceeded the September median by 10.6 percent. On a year over year basis, the median sales price was 23 percent greater than the October 2015 median of $211,250.
The number of sales in October was 75 which was 23 percent higher than the 61 sales reported in September. In October of 2015 there were 72 reported sales marking a 4% increase in year over year sales.
“Along with the Clear Lake Riviera we saw a number of sales in the Hidden Valley Lake, Clearlake and Lakeport areas,” commented 2016 LCAOR President Erin Woodward. “This is very common given the density of housing in those locations.”
Financing mixes continued on a trend that has been prevalent for some time. Cash buyer purchased 32 percent of the homes and 60 percent of the homes were financed with loans.
Looking at the aforementioned areas by President Woodward, the median sales price for the Clear Lake Riviera was $195,000, Hidden Valley Lake came in at $280,000, North Lakeport at $286,000 and the northwest section of Clearlake at $80,000. These prices demonstrate the diversity in housing cost in the County.
The California Association of Realtors (C.A.R.) reported that statewide existing, single family home sales totaled 442,970 in October up 4.1 percent from September and 8.0 percent from October 2015. October’s statewide median home price was $513,520, up 1.2 percent from the revised September numbers and up 7.3 percent from October 2015.
The statewide median days to sell a home was 29.4 days compared to 69 days in Lake County.
Scott Knickmeyer is Associate Executive of the Lake County Association of Realtors
