Hollister, San Benito County Real Estate Market Update for March 31, 2012

Solds_for_the_week_03-31-12[1]

Single Family Residential
_______________________________________________________
Actives:
San Benito County-99 of which REO/Bank Owned-19 or 19%, Short Sales-24 or 24%
Hollister-57 of which REO/Bank Owned-13 or 23%, Short Sales-18 or 32%
 
Pendings:
San Benito County-197 of which REO/Bank Owned-28 or 14%, Short Sales-113 or 57%
Hollister-162 of which REO/Bank Owned-22 or 14%, Short Sales-96 or 60%
 
Absorption Rate:
San Benito County-.50 months supply of inventory or 15-Days
Hollister-.35 months supply of inventory or 10.5-Days

_______________________________________________________
Solds for the week: 4
High: $375,000 REO/Bank Owned, FHA Loan
Low: $217,000 REO/Bank Owned, FHA Loan
Full-Price/Over-Asking: 2 or 50%
_______________________________________________________
Sale Type:
REO/Bank Owned-2 or 50%
Short Sale-2 or 50%
_______________________________________________________
Financing Type:
New Conv. 1st-2 or 50%
FHA Loan-2 or 50%
_______________________________________________________
Wow! Our inventory levels are rapids approaching the shortages of the peak of the run up of the market!!!
Weird…this last week my phone’s been ringing off the hook…maybe the limited inventory and low interest
rates are getting some buyers off the fence. Could we be seeing a little bit of an old fashioned spring
buying season?