At the beginning of 2011, there were 550 homes on the market, which is right in our “normal” 500- 550! Fewer homes on the market, of course, supports prices and keeps them from falling. That’s good.
And we had an uncharacteristically high 75 homes sold in December in Humboldt County! That’s the highest count since September, and during what is historically one of our lowest months!. Of course, more homes sold puts upward pressure on prices.
The average sales price of a home came down from November, but remember, that was a very uncharacteristic month. There were 6 homes sold in November for over $500,000, one for $2.2 million! So while December’s average home sales price was down from the previous month, it was a solid $270,993, pretty close to the average for the year of $278,000!
The median home sale price in Humboldt County for December was a little scary, though, down to $235,100, a recent record low! We’re still 3 for 4 so far in the statistical categories!
Are we turning the corner? Have we bottomed out and started looking up? So far in January ’11, things continue to look solid. Over the last 30 days we have sold 78 homes for an average sales price of $261,499, and a median sales price of $243,450. Our lead indicator is volume; as it moves up, prices will follow. So, are we turning a corner? Just asking that question honestly is a good sign!
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