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Real estate market remains strong for sellers; inventory for buyers still low – Lake County News

LAKE COUNTY, Calif. — Each month the stats may change a little here and there, but the picture continues to be a positive one for people who are selling their homes in Lake County.

However, the market can be a little frustrating for those looking to buy. Inventory is still low, time on market is short and multiple offers on homes are still common.

Existing median price for houses in all of Lake County was $335,000 for the month of June 2021. This is up 3.39% from last year at this time, but down $25,000 from last month’s median price of $360,000.

May was up $27,000 over April so we are seeing slight fluctuation in median price from month to month.

Lakeport’s median home price was $370,000, down 9.5% from June 2020.

Hidden Valley’s median home price was $398,000, up 12.1% from last year and up $38,000 from May’s $360,000 median price.

The Kelseyville median home price was $334,000, up 7.6%, and the Clearlake median home price was $188,000, up 16% in a year-over comparison.

Existing home sales countywide totaled 107, which was up 23% over June 2020.

Lakeport sales were 19, which was down 20.8%; Hidden Valley sales were also 19, which is up 72.7% from the previous year; Kelseyville home sales were 24, up 14.3%; and Clearlake home sales totaled 17, up 88.9%.

As far as inventory goes, active listings countywide totaled 168, which is down 29.1% from last year at this time.

Lakeport had 28 active listings which is actually up 16.7% from last year, while Hidden Valley Lake had 19 active listings, down 51.3%.

Kelseyville had 36 active listings, down 36.8%, and Clearlake had 28 active listings, down 30%.

Countywide the number of days on the market continues to be very low, with the median being 12 days for June 2021. Sales price continues to be an average 100% of list price. But price reductions are still happening when properties are overpriced, with 32.1% of active listings having price reductions for June 2021.

Lakeport had a median of six days on the market with 100% sale to list price, and 39.3% of active listings having price reductions for June.

Hidden Valley Lake had a median of seven days on the market with sales to list price at 100% and 10.5% of homes with price reductions.

In Kelseyville, total median days on market came out a little higher at 18 days with sales to list price being 100% and a larger amount of price reductions at 41.7%.

Clearlake’s median days on market totaled seven, with sales to list price at 98% and 28.6% of listings with price reductions.

The bottom line is if you are thinking of selling, price it right and you should have a quick successful sale.

If you are thinking of buying, go into it prepared and anticipate competition.

Tama Prokopowich is president-elect of the Lake County Association of Realtors.



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