Lori Uhl McClelland's Blog

Single Family Residential

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Actives:

  San Benito County-137 of which REO-23 or 17%

  Hollister-67 of which REO-12 or 18%

Pendings:

  San Benito County-238 of which REO-50 or 21%

  Hollister-196 of which REO-42 or 21%

Absorption Rate:

  San Benito County-.58 months supply of inventory or 17 days

  Hollister-.34 months supply of inventory or 10 days

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Solds for the week: 19

   High-$431,000 New Anderson home, Conv. 1st (Actually 2 closed this week at the same price)

   Low-$140,000 REO/Bank Owned, All Cash

   Full-Price or Over-Asking: 14 or 74%

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Sale Type

  REO/Bank Owned: 7 or 37%

  Short Sale: 7 or 37%

  Equity Sale: 5 or 26%

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Financing Type

  New Conv. 1st: 11 or 58%

  FHA Loan: 4 or 21%

  All Cash: 4 or 21%

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Wow! A big week for closings…must have been the holiday next week and people making sure they get their first time homebuyer credit?

The Absorption Rate remains dramatically low! Shocking!