Hollister, San Benito County Real Estate Market Update for November 9th, 2013

Solds for the Week of 11-09-13

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

 

Single Family Residential
____________________________________________
Active’s
San Benito County-83 of which REO/Bank Owned-1 or 1%, Short Sales-6 or 7%
Hollister-52 of which REO/Bank Owned-1 or 2%, Short Sales-6 or 12%
Pending’s
San Benito County-87 of which REO/Bank Owned-3 or 3%, Short Sales-30 or 34%
Hollister-62 of which REO/Bank Owned-2 or 3%, Short Sales-24 or 39%
Absorption Rate
San Benito County- .95 months supply of inventory or 29-days
Hollister-.84 months supply of inventory or 25-days
____________________________________________
Sold’s for the Week: 6
High: $850,000 Traditional Sale, All CASH
Low:  $175,000 Traditional Sale, All CASH
Full-Price/Over-Asking: 5 or 83%
Average DOM: 22-days
Average Square Footage: 1900/sf
Average Price/Square Foot: $250/sf
Average Sale Price: $486,250.00
___________________________________________
Sale Type
Traditional Sale: 6 or 100%
REO/Bank Owned: None
Short Sales: None
___________________________________________
Financing Type
All CASH: 2 or 33%
New Conv. 1st: 2 or 33%
FHA Loan: 1 or 17%
VA Loan: 1 or 17%
___________________________________________
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Hollister, San Benito County Real Estate Market Update for March 23, 2013

Solds for the Week of 03-23-13

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-56 of which REO/Bank Owned-1 or 2%, Short Sales-1 or 2%
Hollister-36 of which REO/Bank Owned-0, Short Sales-1 or 3%
Pendings
San Benito County-138 of which REO/Bank Owned-11 or 8%, Short Sales-66 or 48%
Hollister-110 of which REO/Bank Owned-8 or 7%, Short Sales-59 or 54%
Absorption Rate
San Benito County-.41 months supply of inventory or 12-Days
Hollister-.33 months supply of inventory or 10-Days
_____________________________________________________________________

Solds for the Week: 8
High: $750,000 Traditional Sale, FHA Loan
Low:  $190,000 Short Sale, All Cash
Full-Price/Over-Asking: 5 or 63%
Average Price/Square Foot: $164.14
Average Square Footage: 2344sf
Average Sales Price: $397.048.00
_____________________________________________________________________
Sale Type
Short Sales: 4 or 50%
Traditional Sale: 3 or 37.5%
REO/Bank Owned: 1 or 12.5%
_____________________________________________________________________
Financing Type
FHA Loan: 4 or 50%
All Cash: 2 or 25%
New Conv 1st: 1 or 12.5%
VA Loan: 1 or 12.5%
_____________________________________________________________________
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Hollister, San Benito County Real Estate Market Update for March 16, 2013

Solds for the Week of 03-16-13

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

 

Single Family Residential

_____________________________________________________________________
Actives
San Benito County-53 of which REO/Bank Owned-2 or 4%, Short Sales-0
Hollister-33 of which REO/Bank Owned-1 or 3%, Short Sales-0
Pendings
San Benito County-140 of which REO/Bank Owned-8 or 6%, Short Sales-72 or 51%
Hollister-111 of which REO/Bank Owned-5 or 5%, Short Sales-64 of 58%
Absorption Rate
San Benito County-.38 months supply of inventory or 11-Days
Hollister-.30 months supply of inventory or 9-Days
_____________________________________________________________________
Solds for the Week: 7
High: $454,000 Traditional Sale, All Cash
Low:  $250,000 Traditional Sale, FHA Loan
Full-Price/Over-Asking: 7 or 100%
Average Sq Ft: 1894
Average Sales Price: $338,129.00
Average Price/Sq Ft: $179.00
_____________________________________________________________________
Sale Type
Traditional Sale: 5 or 71%
Short Sale: 2 or 29%
____________________________________________________________________
Financing Type
FHA Loan: 4 or 57%
All Cash: 2 or 29%
USDA Loan: 1 or 14%
____________________________________________________________________
Wow! This week is a another first since I started tracking our weekly market stat’s. Every property that sold closed for full-price or over-asking!
2 were full-price and 5 were over-asking. How much over? As little as $112 and as much as $49,000! for a 1750sf 4/2 house on Summer Dr, really? All Cash Sale and 16% over list price, WOW! WOW! WOW!
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Hollister, San Benito County Real Estate Market Update for March 9, 2013

Solds for the Week of 03-09-13

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

 

Single Family Residential

_____________________________________________________________________
Actives
San Benito County-49 of which REO/Bank Owned-2 or 4%, Short Sales-4 or 8%
Hollister-24 of which REO/Bank Owned-None, Short Sales-3 or 12%
Pendings
San Benito County-134 of which REO/Bank Owned-6 or 4%, Short Sales-70 or 52%
Hollister-112 of which REO/Bank Owned-5 or 4%, Short Sales-63 or 56%
Absorption Rate
San Benito County-.36 months supply of inventory or 11-Days
Hollister-.21 months supply of inventory or 6-Days
_____________________________________________________________________
Solds for the Week: 9
High: $499,000 Traditional Sale, All CASH
Low:  $235,000 Traditional Sale, New Conv. 1st
Full-Price/Over-Asking Price: 5 or 55%
Average Sales Price: $377,400
Average Price/Square Foot: $175
_____________________________________________________________________
Sale Type
Traditional Sale: 6 or 66%
Short Sale: 2 or 22%
REO/Bank Owned: 1 or 11%
_____________________________________________________________________
Financing Type

New Conv 1st: 5 or 55%
All CASH: 2 or 22%
FHA Loan: 1 or 11%
VA Loan: 1 or 11%
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Things that make ya go hummmm….
Of the 49 properties on the market for San Benito County only 16 or 32% are listed under $500,000
Of the 24 properties on the market for Hollister only 6 or 25% are listed under $500,000
Oh my!
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Hollister, San Benito County Real Estate Market Update for February 23, 2013

Solds for the Week of 02-23-13

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

 

Single Family Residential

______________________________________________________________________
Actives
San Benito County-47 of which REO/Bank Owned-NONE, Short Sales-4 or 8.5%
Hollister-23 of which REO/Bank Owned-NONE, Short Sales-4 or 17%
Pendings
San Benito County-137 of which REO/Bank Owned-10 or 7%, Short Sales-77 or 56%
Hollister-114 of which REO/Bank Owned-9 or 6%, Short Sales-67 or 59%
Absorption Rate
San Benito County-.34 months supply of inventory or 10-Days
Hollister-.20 months supply of inventory or 6-Days
______________________________________________________________________
Solds for the Week: 6
High: $570,000 Traditional Sale, New Conv 1st
Low:  $125,000 REO/Bank Owned, New Conv 1st
Full-Price/Over-Asking: 2 or 33%
Average Sales Price: $340,000
Average Square Footage: 1765sf
Average Price/SF: $196
______________________________________________________________________
Sale Type
Traditional Sale: 5 or 83%
REO/Bank Owned: 1 or 17%
Short Sales: None
______________________________________________________________________
Financing Type
New Conv 1st: 4 or 66%
USDA Loan: 1 or 17%
All CASH: 1 or 17%
______________________________________________________________________
Wow! For the first time in at least 6 years there are NO ACTIVE REO/BANK OWNED HOMES!
Do I believe we are past the distressed property market…absolutely not! Do I think government intervention and lawsuit agreements with the banks have successfully ground the market to halt? You decide…..Think about this…low inventory, low interest rates, high buyer demand=raising prices….recipe for????
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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
_____________________________________________________________________
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
_____________________________________________________________________
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
_____________________________________________________________________
Sale Type
Traditional Sale: 5 or 56%
REO/Bank Owned: 2 or 22%
Short Sales: 2 or 22%
_____________________________________________________________________
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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Hollister, San Benito County Real Estate Market Update for February 9, 2013

Single Family Residential

Official seal of County of San Benito
Official seal of County of San Benito (Photo credit: Wikipedia)
_____________________________________________________________________
Actives
San Benito County-52 of which REO/Bank Owned-2 or 4%, Short Sales-3 or 6%
Hollister-29 of which REO/Bank Owned-2 or 7%, Short Sales-3 or 10%
Pendings
San Benito County-137 of which REO/Bank Owned-9 or 7%, Short Sales-82 or 60%
Hollister-116 of which REO/Bank Owned-7 or 6%, Short Sales-72 or 62%
Absorption Rate
San Benito County-.38 months supply of inventory or 11 days
Hollister-.25 months supply of inventory or 7.5 days
_____________________________________________________________________
Solds for the Week: 10
High: $579,900 Traditional Sale, New Conv 1st
Low:  $235,000 REO/Bank Owned, New Conv 1st
****Full-Price/Over-Asking: 8 or 80% – of those 3 were full-price and 5 were over list.
The lowest over-list was $10,000. The highest over was $49,000. The average $26,000
Ave. Square Footage: 2018sf
Ave. Sale Price: $374,090.00
Ave. Price/Square Foot: $181.18
______________________________________________________________________
Sale Type
Traditional Sale: 7 or 70%
REO/Bank Owned: 2 or 20%
Short Sale: 1 or 10%
______________________________________________________________________
Financing Type
All Cash: 3 or 30%
New Conv 1st: 3 or 30%
FHA Loan: 2 or 20%
VA Loan: 1 or 10%
USDA Loan: 1 or 10%
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Hollister, San Benito County Real Estate Market Update for February 2, 2013

Solds for the Week of 02-02-13

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

 

Single Family Residential

_____________________________________________________________________
Actives:
San Benito County-55 of which REO/Bank Owned-3 or 5%, Short Sales-5 or 9%
Hollister-33 of which REO/Bank Owned-2 or 6%, Short Sales-5 or 15%
Pendings:
San Benito County-139 of which REO/Bank Owned-10 or 7%, Short Sales-82 or 59%
Hollister-117 of which REO/Bank Owned-9 or 8%, Short Sales-71 or 61%
Absorption Rate:
San Benito County-.39 months supply of inventory or 12-days
Hollister-.28 months supply of inventory or 8.5-days
_____________________________________________________________________
Solds for the Week: 14
High: $875,000 New Conv 1st, Traditional Sale (Dr. Bruce’s Vet Clinic)
Low:  $173,500 FHA Loan, REO/Bank Owned
Full-Price/Over-Asking: 4 or 29%
Average Price/Square Foot: $201.49
Average Sales Price: $429,607.00
_____________________________________________________________________
Sale Type
Traditional Sale: 11 or 79%
REO/Bank Owned: 2 or 14%
Short Sale: 1 or 7%
_____________________________________________________________________
Financing Type
New Conv 1st: 5 or 37%
FHA Loan: 4 or 28%
VA Loan: 2 or 14%
USDA Loan: 2 or 14%
All Cash: 1 or 7%
_____________________________________________________________________
**Of Note:
2843 Ty Drive was listed at $499,900. We were aware of at least 11 offer’s on the property and it closed for an astounding $605,000!
Sold for 20% over list price, OMG! That’s crazy!!!
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Hollister, San Benito County Real Estate Market Update for the last 21 Days

Solds for the last 3 weeks 01-26-13

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

 

 

***  I looked at the sold’s for the last 3 weeks since I was sick on the 12th and then on the cruise ship the 19th.

Single Family Residential
_____________________________________________________________________

Actives:
San Benito County-51 of which REO/Bank Owned-1 or 2%, Short Sales-5 or 10%
Hollister-28 of which REO/Bank Owned-None, Short Sales-5 or 18%
Pendings:
San Benito County-148 of which REO/Bank Owned-14 or 9%, Short Sales-82 or 55%
Hollister-126 of which REO/Bank Owned-13 or 10%, Short Sales-71 or 56%
Absorption Rate:
San Benito County-.34 months supply of inventory or 10-days
Hollister-.22 months supply of inventory or 6.5-days
_____________________________________________________________________
Solds for the last 21 days: 19
High: $450,000, New Conv 1st, Traditional Sale
Low:  $125,000, New Conv 1st, Traditional Sale
Full-Price/Over-Asking: 11 or 58%
Average Square Footage: 1727sf
Average Sale Price: $289,211.00
Average Price/Square Foot: $172.00
_____________________________________________________________________
Sale Type
Traditional Sale: 13 or 68%
Short Sale: 6 or 32%
REO/Bank Owned: None
_____________________________________________________________________
Financing Type
FHA Loan: 8 or 43%
New Conv 1st: 7 or 37%
All Cash: 2 or 10%
VA Loan: 1 or 5%
USDA Loan: 1 or 5%
_____________________________________________________________________
Looks like our inventory has reached “historic lows” 
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Hollister, San Benito County Real Estate Market Update for January 5th, 2013

Solds for the Week of 01-05-13

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

 

Single Family Residential

_____________________________________________________________________
Actives
San Benito County-55 of which REO/Bank Owned-2 or 4%, Short Sales-5 or 9%
Hollister-33 of which REO/Bank Owned-1 or 3%, Short Sales-4 or 12%
Pendings
San Benito County-135 of which REO/Bank Owned-11 or 8%, Short Sales-79 or 59%
Hollister-117 of which REO/Bank Owned-11 or 9%, Short Sales-69 or 59%
Absorption Rate
San Benito County-.40 months supply of inventory or 12-days
Hollister-.28 months supply of inventory or 8.4-days
_____________________________________________________________________
Solds for the Week: 2
High: $809,000 New Conv 1st, Traditional Sale
Low:  $243,000 New Conv 1st, Short Sale
Full-Price/Over-Asking: 1 or 50%
Ave. Price/Square Foot: $166
Ave. Sales Price: $526,000
_____________________________________________________________________
Sale Type
Traditional Sale: 1 or 50%
Short Sale: 1 or 50%
_____________________________________________________________________
Don’t EVER remember the inventory being this low…not even during the run-up of the market!
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