The New Year is starting out very slow in the Magalia real estate market. With 9 new listings, 12 price reductions, and only 1 sold listing; inventory is continuing to build in Magalia. Activity surrounding the manufactured homes market in Magalia is still the strongest with the properties selling at a rate of 15%. The 30 year fixed rate fell slightly from 6.17 to 6.07, making the real estate mortgage conditions very desirable to take advantage of the continuous price reductions.
The New Year has not brought a new pace to the Paradise real estate market. We are still experiencing high levels of inventory with the number of new listings and price reductions exceeding the number of sales. There were 15 new listings last week in Paradise with 9 price reductions and 7 sold listings. The single family homes under $250,000 and manufactured homes are still the two types of properties that are experiencing the most activity with both categories selling at a rate of 21%. The 30 year fixed rate fell slightly from 6.17 to 6.07, making the real estate mortgage conditions very desirable to take advantage of the continuous price reductions in Paradise.
Broker Associate serving Butte County Buyers and Sellers since 1986. Currently Paradise Association of Realtors 2008 President. Specializing in relocations & retirement properties.
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