Hollister, San Benito County Real Estate Market Update for July 27, 2013

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

Solds for the Week of 07-27-13

Single Family Residential

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Actives
San Benito County-86 of which REO/Bank Owned-3 or 3%, Short Sales-2 or 2%
Hollister-56 of which REO/Bank Owned-2 or 4%, Short Sales-2 or 4%
Pendings
San Benito County-95 of which REO/Bank Owned-1 or 1%, Short Sales-47 or 49%
Hollister-77 of which REO/Bank Owned-None, Short Sale-41 or 53%
Absorption Rate
San Benito County-.91 months supply of inventory or 27-days
Hollister-.73 months supply of inventory or 22-days
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Solds for the Week: 9
High: $757,500.00 New Conv 1st, Regular Sale
Low:  $250,000.00 FHA Loan, Regular Sale
Full-Price/Over-Asking: 8 or 89%
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Sale Type
Regular Sale: 9 or 100%
REO/Bank Owned: None
Short Sales: None
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Financing Type
New Conv 1st: 3 or 33%
FHA Loan: 3 or 33%
VA Loan: 2 or 22%
All CASH: 1 or 12%
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Looks like we are witnessing a real slow down in the market!
For the longest time our absorption rate for San Benito County has
been running about 16-18 days and now it’s up to 27-days. Almost
a 60% increase.
For Hollister the absorption rate had been running 10-14 days and
now it is up to 22-days.  Almost a 50% increase.
Properties are still selling for full-price or over! Seller’s are most likely
lucky to get a couple offer’s vs 5 or 10 and some contingent offer’s
are now showing up in the marketplace too!
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