Hollister, San Benito County Real Estate Market Update for August 29th, 2009

Single Family Residential

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Active: SBC~158 of which REO~29 or 18%

                   HO~78 of which REO~18 or 23%

Pending: SBC~235 of which REO~68 or 29%

                       HO~202 of which REO~61 or 30%

Absorption Rate: SBC~.67 HO~.39 months supply of inventory

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Sold’s for the week: 16

  High: $670,000  REO, Cash

  Low:  $175,000  REO, USDA Loan

Full Price or Over Asking: 7 or 44%

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Sale Type

REO: 11 or 69%

Short Sale: 4 or 25%

Equity Sale:1 or 6%

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Financing Type

New Conv. 1st: 3 or 19%

FHA Loan: 8 or 50%

Cash: 2 or 13%

USDA Loan/Other: 3 or 19%

 

Sold volume appears back to normal after a very low week last week of only 4 closings.  Overall inventory remains very low and demand is up in the most affordable priceranges. Multiple offer’s continue to dominate on home in the lower prices.