Crescent City/Del Norte County Market Report for June 2010 - Encouragement for sellers
I'm going to write an encouraging market report for a change. Don't get overly excited, however...
The median price was still low at $145,000 for residential listings sold in Del Norte County for June, however, there were 19 sales, the most in one month so far this year and two sales over $300,000, one for $435,000 and the other for $356,000 (an REO). The home that sold for $435,000 has an ocean view and sold for $115 a square foot, down from the high of a few years ago when ocean view properties were selling in the upper $200's a square foot.
It shouldn't come as a shock that the Del Norte County real estate market has declined 40% since the high in 2006 and continues it descent. Sorry I forgot I was writing an encouraging report.
There are currently 291 active residential listings on the market. At the current rate of 19 sales a month, we have an absorption rate of 15 months, down from the high of 22 months. If you are selling your home, that should be encouraging.
However, you knew a "however" was coming, four of those 19 June sales were REO's and 2 were short sales. These types of sales continue to add to declining home values along with financing that is very difficult to obtain and economic hardships being felt in every sector, including Del Norte County's largest employers, the State of California as well as other government entities. Employees are getting squeezed at every turn right now, expect one, home prices if you're a buyer!
Homes in the under $200,000 range are selling at a brisk pace, 74% of June sales, giving first time home buyers a chance at the American dream and investor's a better return on their money than they can get in most venues. Del Norte County's median price is $229,000.
Give me a call if you are trying to sell your home, are thinking about selling your home or want to purchase a home. I am happy to discuss current trends in the Del Norte County real estate market and how you can meet your real estate goals in the current market, even if you need to sell.
Fran has sold 9.06 of the volume so far in 2010 (next closest agent has sold 6.71), more than any other agent and has sold more listings than any other agent. Fran attributes this to knowing the Del Norte County real estate market and working full time, being accessible to her clients 40+ hours a week. Give her a call to reach your real estate goals, even in this market!
Thank you for stopping by. Your comments on this post are welcomed and appreciated.
No one sold more homes in Del Norte County in 2009--*both in number and volume--than Fran Gatti. Put Fran to work for you!
 |
Brought to you by Fran Gatti at |
*PER CCMLS
My wife and I were one of the lucky one's this past month to realize the American Dream of becoming a first time home owner. We are so glad that we chose Fran as our agent, she helped more than anyone can ever imagine through the difficult process of getting a loan completed through the USDA Rural Housing Program. Although it was a long and difficult process is was well worth the outcome. Fran was instrumental in us being able to do this, she has worked with the program before and knew about all the requirements.
I would highly recommend Fran to any person looking to buy or sell. My wife and I are eternally grateful to her and her husband for all their hard work and dedication.
Again Thank you Fran and Garry for everything.
James and Wanda Clifton