Weekly Paradise Real Estate Update

Two good things happened last week in the Paradise Real Estate Market. The first was that the interest rates for a 30 year fixed rate mortgage dropped back down to 6.03 from 6.24. The second is that we had 12 Paradise properties go under agreement and another 10 properties close escrow. We therefore had 22 properties move off the market last week which is a great sign that Paradise buyers are out taking advantage of the lower interest rates and real estate inventory. There were only 9 price reductions last week in Paradise; this is a significant drop from the 27 price reductions we saw the previous week.

We also saw a shift in activity last week in the category of Paradise properties that experienced the most activity. Single family homes priced between $350,000 and $450,000 had the most properties go under agreement with 29% of the current inventory pending. The other 2 highest categories were those Paradise single family homes listed under $250,000 with 26% of the inventory pending, and the Paradise manufactured homes with 20% of the inventory pending.

For a full market report or to discuss the market in detail, you can reach me anytime on my direct office line at (530) 872-5435 or my cell at (530) 520-6900 or email me at Lynn@LynnsHomeTeam.com. Please visit my website for your complete guide to all that Paradise and the surrounding areas have to offer at http://www.lynnshometeam.com/