There are currently 568 homes on the market, which is just a hair higher than our “normal” 500- 550, and close to our recent low of 550. Fewer homes on the market, of course, supports prices and keeps them from falling. That’s good.
The bad news is that we only sold 57 homes in November in Humboldt County, a recent record low for the month. Fewer homes sold puts downward pressure on prices. Perhaps these 2 figures balance each other out?
We’ll have to wait and see, because there were 6 homes over $500,000 that sold in Humboldt County in November, one for $2.2 million! That really skewed our average sale price up to a 30 month high of $325,809!
And the median home sale price in Humboldt County jumped up to $250,000, which is right in line with the average median home sale price all year!
Overall, this report, like so many others this year, points to a bottoming out of the market. When is the market going to improve? Nobody knows, but there’s only one direction to go from the bottom; up!
