Magalia, CA

If slow and steady wins the race, then the Magalia real estate market will be ok.

We have just come off another week of slower activity but it is very consistent with the activity level we have seen in weeks past. There were 15 new listings that hit the Magalia real estate market with another 12 listings experience price reductions. During this same time period there were 3 properties that went under agreement and another 2 properties that closed escrow. Consequently the available Magalia real estate inventory continues to build! So buyers, go ahead and take advantage of the 5.88% average on the 30 year fixed rate mortgages and take the plunge into Magalia homeownership today. Currently there are 245 real estate listings in Magalia with 132 of them being single family homes, 64 of them being manufactured homes, and 49 being land.

Call today for a more detailed market report.

Spring arrived in the month of March and so did some low 30 year fixed rate mortgages in the Magalia area. Currently at 5.88% with March just recently behind us. Some other Magalia real estate market statistics for the month of March are as follows:

Magalia - March 2008

Total Listings Vs. Activity - Magalia

It was a slow week for the Magalia real estate market with no properties closing escrow and only 4 properties going under agreement. A couple of key things happened though that may interest Magalia area buyers. There were a number of price reductions (13 of them!!) and the interest rates dropped to 5.85% for an average 30 year fixed rate. This spring market is shaping up to be a buyer's delight with interest rates and price reductions being ideal. Areas receiving the most interest in this Magalia market are those single family properties priced below $250,000, as well as the manufactured homes.

Slowly but surely, things are starting to pick up in the Magalia real estate market. Over the last few weeks, we have seen a very gradual increase in activity from week to week. This past week was no different, with 5 Magalia properties going under agreement and another 6 Magalia properties closing escrow. There were only 11 new properties that hit the market in Magalia which is a sign that the pace of inventory growth may be slowing. There was also a decrease in the number of price reductions this past week in the Magalia real estate market with only 8 existing listings altering their price. For the third week in a row, the category of real estate that continues to receive the most activity in Magalia are those single family properties priced between $350,000 and $450,000 with 20% of the total properties in that category currently under agreement.

I took a look at the 10 day forecast for Magalia and after a bit of rain and cooler temperatures, the sun is expected to shine with warmer temperatures in the mid to high 60's. Let's hope the same is true for the Magalia real estate market. Unfortunately, up to this point, the Magalia market hasn't picked up the steam would have hoped for. This past week we had 4 properties close escrow and 2 properties go under agreement. We saw another 14 properties enter the market with 12 Magalia properties experiencing price reductions. Single family homes priced between $350,000 and $450,000 again experienced the most activity this past week, with 22% of the properties currently pending. As a note for buyers, interest rates for a 30 year fixed rate mortgage fell back down this past week to 6.03. This combined with the high number of price reductions signals a great opportunity to negotiate a very great rate for a great priced Magalia home. 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 www.LynnsHomeTeam.com.