Market trends

Redding area home sales up in October

This post was published 8 years ago. Please, read this page keeping in mind that this home may have sold by now. You can always check current status by calling or texting (530) 356 4500 The Address Realty DRE # 01710206

Up, just a bit. We are still mostly constrained by lack of inventory, with more buyers than homes to sell. Here’s the chart of inventory:
October home sales in greater Redding californiaThese numbers come from the Shasta MLS and are only the areas around “greater Redding,” which is more or less Shingletown to Whiskeytown, and Lakehead to Lake California. The bars show inventory remains at a low point. Here are the numbers behind the chart:
Local home sales in the Redding California areaSo, maybe 14 more homes sold in October than September. We could have sold a few more, if only we had homes to sell that were suitable for our clients.

It bears noting too that investor home flippers have really put a dent in the foreclosure (REO) inventory. Homes that formerly arrived as REO homes in need of repair and sold to homebuyers are now snapped up somewhere (insider trading?) before making it to the “retail” channel, and then are re-sold or rented out. Even the Bay Area investors have taken note of our attractive housing prices.


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