Hollister, San Benito County Real Estate Market Update for February 16th, 2013

Solds for the Week of 02-16-13

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)

 

 I think this article may be the best explanation of what’s really going on in the market!

On Foreclosure Radar from Oct 22 to now 107 sales have been cancelled. Granted some were successful Short Sales but I think most where due to the new law that went into effect for CA i.e no dual tracking the foreclosure yadda, yadda, yadda…

Single Family Residential
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Actives:
San Benito County-64 of which REO/Bank Owned-3 or 6%, Short Sales-7 or 13%
Hollister-29 of which REO/Bank Owned-3 or 10%, Short Sales-6 or 21%
Pendings:
San Benito County-136 of which REO/Bank Owned-8 or 6%, Short Sales-79 or 58%
Hollister-115 of which REO/Bank Owned-7 or 6%, Short Sales-70 or 61%
Absorption Rate:
San Benito County-.40 months supply of inventory or 12-Days
Hollister-.25 months suppl of inventory or 7.5-Days
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Solds for the Week: 9
High: $417,000 REO/Bank Owned, USDA Loan
Low:  $179,000 Traditional Sale, FHA Loan
Full-Price/Over-Asking: 6 or 67%
Average Price/Square Foot: $172.92
Average Square Footage: 1847sf
Average Sales Price: $303,833
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Sale Type
Traditional Sale: 5 or 56%
REO/Bank Owned: 2 or 22%
Short Sales: 2 or 22%
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Financing Type
New Conv. 1st: 4 or 44%
FHA Loan: 3 or 33%
USDA Loan: 2 or 22%
All CASH: none
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