Hollister, San Benito County Real Estate Market Update for April 6th, 2013

Solds for the Week of 04-06-13

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

 

Single Family Residential

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Actives:
San Benito County-63 of which REO/Bank Owned-3 or 5%, Short Sales-4 or 6%
Hollister-40 of which REO/Bank Owned-2 or 5%, Short Sales-3 or 7.5%
Pendings:
San Benito County-134 of which REO/Bank Owned-4 or 3%, Short Sales-62 or 46%
Hollister-106 of which REO/Bank Owned-4 or 4%, Short Sales-54 or 51%
Absorption Rate:
San Benito County-.47 months supply of inventory or 14-days
Hollister-.38 months’ supply of inventory or 11-days
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Solds for the Week: 10
High: $675,000 Regular Sale, New Conv 1st
Low:  $163,000 Short Sale, New Conv 1st
Full-Price/Over-Asking: 7 or 70%
Average Sales Price: $313,800
Average Price/Square Foot: $178
Average Square Footage: 1748sf
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Sale Type
Traditional Sale: 6 or 60%
REO/Bank Owned: 3 or 30%
Short Sale: 1 or 10%
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Financing Type
All Cash: 4 or 40%
New Conv 1st: 3 or 30%
FHA Loan: 2 or 20%
VA Loan: 1 or 10%
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Looks like CASH remains king in the market! Investors continue to be driven
out of the bond market into stocks (risky) and into real estate.
People always need a roof over their head no matter what!
Cash buyers also validate the upper-ward pressure on values. No appraisal and
under-writing approval required just someone saying I see value at X dollars and I
want it!!!
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