Humboldt County, California Real Estate Statistics, July 2011

How is our local real estate market in Humboldt County, California performing, in the midst of all of the gloomy national and world economic news? Kinda yucky.


Our housing inventory, the number of homes for sale on the market, has been creeping up all year. We're not high beyond normal, but we are high enough that we might start seeing some downward pressure on prices.

The more homes we have that are selling, the better support we will have for prices. While we are up off of some of the scary bottom figures we've seen earlier in the year, we are not selling so many homes that it looks like prices are going to start moving up again any time soon.

And sure enough, our average sales price continues our ooze downward. Our average sales price has been lower than the year before for 5 of the last 7 months, and 25 of the last 31 months. But don't panic. This too will pass. We won't know it's the bottom of the market until we've already passed it.

The median price has graphed similarly to the average price.

There is no little man that comes out and rings a bell on the day that the market hits bottom. It could be next month, or today, or last week. We have a great selection of homes, the best interest rates in years, and you gotta live somewhere. And rents are very strong relative to price. We will look back some day, and say, "I sure do wish I had bought real estate in Humboldt County in ___," and there will be a date in that blank. We just don't know if it's today's date, or tomorrow's!