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Redding Home Sales – January 2013

February 6, 2013 By Chris Parsons Leave a Comment

Home sales in Redding continue to show strength. There were 106 homes sold in January. That is up from the 93 homes sold in January of last year. The average sales price was $212,259. Inventory has dropped to 565 homes in all of Shasta County. That is lower than we have seen in the last several years.

jan-2013-market-stats

The highest price home sold for $635,000 and the lowest home sold for $39,000.

The average sold price per square foot was $116 that is up from January last year $107.

The average days on market for Redding homes was 113 days.

If you would like more information about the Redding Real Estate market visit our Redding Market Data page.

Filed Under: Blog, selling Tagged With: redding

Redding Homes are Selling Like Hot Cakes!

December 4, 2012 By Chris Parsons Leave a Comment

Not only is inventory dropping (698 homes on the Shasta County MLS), homes are selling faster than they where a year ago. If you are considering selling this is a great time. If you are currently a home buyer you better act fast when you see a home you like. Here is a great info graphic from the California Association of Realtors.

US Home Sales

Filed Under: Blog, selling

September Home Sales Show Signs of Steady Improvement

October 12, 2012 By Chris Parsons Leave a Comment

Shasta County Home Sales September 2012

Home sales continue to show signs of our market improving. September’s average sales price for a home in Redding was $194,802. That is up from September 2011 $176,876. Shasta County had 212 homes sold in September.

Shasta County Housing Stats For September 2012

Statistic
Sep-12
Sep-11
% Chg
2012 YTD
2011 YTD
% Chg
Absorption Rate
3.91
6.09
-35.80
4.13
7.02
-41.17
Average List Price
$304,973
$281,020
8.52
$241,760
$237,780
1.67
Median List Price
$215,000
$195,000
10.26
$180,650
$179,900
0.42
Average Sale Price
$202,828
$182,691
11.02
$180,343
$182,002
-0.91
Median Sale Price
$171,000
$167,500
2.09
$159,995
$155,000
3.22
Average DOM
133
110
20.91
119
130
-8.46
Median DOM
101
93
8.60
88
100
-12.00

Redding Housing Stats For September 2012

Sep-12
Sep-11
% Chg
2012 YTD
2011 YTD
% Chg
Absorption Rate
4.12
6.32
-34.81
4.31
7.16
-39.80
Average List Price
$325,087
$287,470
13.09
$249,453
$240,423
3.76
Median List Price
$219,900
$195,000
12.77
$180,000
$179,000
0.56
Average Sale Price
$200,026
$176,876
13.09
$177,299
$179,380
-1.16
Median Sale Price
$165,900
$163,000
1.78
$155,000
$150,000
3.33
Average DOM
150
110
36.36
123
131
-6.11
Median DOM
101
93
8.60
88
101
-12.87

 

Filed Under: Blog, selling

Average Sales Price Continues to Rise On Redding Homes

September 16, 2012 By Chris Parsons Leave a Comment

Shasta County Home Sales August 2012
July’s average sales price for homes in Redding was $198,625. That number rose for the forth consecutive month to $199,166. With Shasta County housing inventory staying low we continue to see multiple offers on listings and offers over the asking price regularly.

From local appraiser Robert Sprenkel “The average sales price/SF continues to tick upwards in all age brackets. While most of the market is active with low inventory, the custom market appears to be soft. There are 43 active listings in Redding with an asking price of $550K+. There is only one pending sale in Redding with a list price over $550K.”

Shasta County Housing Stats For August 2012

Statsistic12-Aug11-Aug% Chg2012 YTD2011 YTD% Chg
Absorption Rate6.99.52-27.527.099.96-28.82
Average List Price$260,090.2$257,317.81.08$236,349.1$239,204.7-1.19
Median List Price$190,000$189,0000.53$179,500$179,900-0.22
Average Sale Price$184,168.4$180,536.72.01$177,755.9$181,898.2-2.28
Median Sale Price$165,500$158,0004.75$158,650$152,7503.86
Average DOM108124-12.9117133-12.03
Median DOM8897-9.2887101-13.86

Redding Housing Stats For August 2012

Statistic12-Aug11-Aug% Chg2012 YTD2011 YTD% Chg
Absorption Rate5.947.79-23.756.168.38-26.49
Average List Price$267,914.7$252,446.36.13$240,782.3$240,332.60.19
Median List Price$202,800$196,9003$189,000$189,900-0.47
Average Sale Price$197,611$193,462.72.14$194,068.1$194,448.6-0.2
Median Sale Price$175,000$173,0561.12$169,000$166,7501.35
Average DOM106123-13.82111126-11.9
Median DOM8699-13.1383100-17

Filed Under: Blog, selling

Redding Home Prices – How Much is My Home Worth?

January 20, 2011 By Chris Parsons Leave a Comment

One of the most-asked questions we get is how much are homes selling for in Redding? As REALTORS we use a series of steps in determining a home’s value.  One of the steps involves checking the recent sales price of similar homes, also known as comps or comparables.  If you’re curious about the value of your home you can do a quick check yourself right now.

You can use sales data provided by www.Zillow.com to verify recently sold homes in your area (ideally, within 3-6 months) that are similar to yours. If you plan on selling your home, comparables are a critical piece of the puzzle when figuring out how to price your home for sale. If you would like to verify the number you come up with you’re welcome to contact Parsons Realty for the most recent home sales data in Redding and Shasta County.

The best sales data is always obtained through a REALTOR using the local MLS data.  However, for a quick check you may find Zillow.com quite useful.  Zillow offers “nearby similar sales” to a home, but you can take this list and create your own set of comparables.  For a tutorial on how to use Zillow for this purpose check out the video here.

[videoplayer file=”https://www.parsonsrealty.com/parsons_realty/parsons_realty/wp-content/videos/zillow.flv” image=”https://www.parsonsrealty.com/parsons_realty/parsons_realty/wp-content/videos/zillow-video.jpg” /]

Filed Under: Blog, selling Tagged With: real estate, redding

Selling Your Home? Don’t Make This Mistake

January 7, 2011 By Leave a Comment

I’ll get right to the point.  There’s only one reason a home doesn’t sell.  It’s priced wrong!  That is, the price is too high.

So, how does one come up with the correct price?  Most people start by calling several REALTORS.  Each REALTOR prepares a comprehensive Market Analysis and they each recommend a specific sales price.

Many times a couple of the REALTORS will have similar prices that you may not be too happy with.  Your home must certainly be worth more and you suspect the REALTORS are low-balling your home for an easy sale.  Then there’s the third REALTOR with a much more pleasing number.  Now this person seems to know what they’re doing.  In fact their number is very close to what you anticipated.  Finally, you found your expert.

The question is, which REALTOR do you choose?

If you’re like many people, you’ll choose the REALTOR with the highest price estimate.  This is the agent that’s really listening to you.  Why not start out with a price that has some wiggle room.  This way, you can drop the price later on if you need to.  After all, this is what most sellers do isn’t it?

If you think this is good logic, think again.  Putting your home on the market at too high a price can actually net you less money in the end.  Here’s why:  With a correctly priced home, the first few weeks on the market is when you’ll see the most activity.  Buyers and their agents will be checking out the new inventory (your house.)

If your house is overpriced few prospects, if any, will be looking at your home.  It’s not likely you’ll be able to convince the other agents in the community that your home should somehow be worth more than comparable homes in the neighborhood.  Remember, the agents representing the buyers are professional home buyers and they know local market conditions, this is what they do every day.  If your house is overpriced they will not waste their time showing it.  Furthermore, they don’t want to risk hurting their credibility with their coveted buyer.  Their time is better spent showing homes that are priced realistically.

By the time you realize the problem and you’re done testing the market, you may decide to drop your price. At this point you are usually too late as your house is “old news.”  It’s rare you will ever recapture that flurry of initial activity you would have had with a realistic price.

In another scenario, let’s say you do find a buyer willing to pay your price because they love your home as much as you do.  Generally speaking, the buyer will need to obtain a purchase money loan.  The lender requires an independent appraisal of value before the loan is made to the buyer.  If comparable sales and current market conditions don’t support your sales price, the house won’t appraise and your deal will fall apart. Of course you can always attempt to renegotiate the price, but only if the buyer is willing to listen. Your house could go “back on the market.”

Should your home fall out of escrow or if you’ve been waiting for an offer for the last 60 days or more, it will be much harder to get a good offer.  Potential buyers and real estate agents will think you may be getting desperate and may make lower offers.  By overpricing your home in the beginning, you could actually end up settling for a lower price than you may have received otherwise.

In conclusion, going with the REALTOR that suggested the highest listing price is a very human mistake based on hope. It’s only natural to hope for the highest and best offer when selling your home.  To avoid this mistake, set an appointment to sit down with the real estate agent of your choice and actually view the multiple listing data and competing properties currently on the market.  You will most likely go to the agent’s office and view the Shasta County MLS data directly from the agent’s computer.  This will take an hour or more of your time but will pay off with a faster sale at the highest possible price.  As with most things in life, trust but verify.

Filed Under: Blog, selling Tagged With: agent

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