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For Sale: $949,500

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Market Trends

Existing Homes Sales Report

According to the National Association of Realtors®, sales of existing homes in October rose for a second consecutive month, overtaking June's sales peak to become the swiftest annualized pace in almost ten years. Each major region saw monthly and annual sales growth in October.

Total existing-home sales (for single-family homes, townhomes, condos and co-ops), increased 2% to a seasonally adjusted annual rate of 5.60 million in October from 5.49 million in September. October's sales velocity is 5.9 percent higher than one year ago (5.29 million), eclipsing June's pace (5.57 million) to become the highest since February 2007 (5.79 million). 


Existing Home Sales By
Region

NAR's chief economist, Lawrence Yun, indicated that the flurry of sales activity in the last two months represents a marked uptick for the housing market. "October's strong sales gain was widespread throughout the country and can be attributed to the release of the unrealized pent-up demand that held back many would-be buyers over the summer because of tight supply," Yun said. The economist added, "Buyers are having more success lately despite low inventory and prices that continue to swiftly rise above incomes."

Housing Data Takeaways

  • Nationally, October's median existing-home price for all housing types was $232,200, an increase of 6% over October 2015 ($219,100). October's price increase represents the 56th straight month of year-over-year gains.
     
  • Total housing inventory by the end of October fell 0.5% to 2.02 million existing homes available for sale, and now sits 4.3% lower than one year ago (2.11 million), and has dropped year-over-year for 17 consecutive months.
     
  • Freddie Mac data shows that the average commitment rate for a 30-year, conventional, fixed-rate mortgage moved up slightly in October for the second month in a row, to 3.47% versus 3.46% in September. The average commitment rate for all of 2015 was 3.85 percent.
     
  • First-time buyers generated 33% of sales nationally in October, down from September's 34% but up from 31% a year ago.
     
  • Distressed sales (short sales and foreclosures) grew slightly to 5% in October, up from 4% in September and down from 6% one year ago.

Ready for Winter?

Winter is one of our favorite times of the year! It's often easy to overlook your home's needs with so many activities happening. Here is a simple checklist of items that can save you money through the winter:

  • Check for leaks and drafts around the house. Replace weather stripping and re-caulk around doors and windows. Drafty doors and windows will cool off the house and cost you money in heating bills.
  • Inspect your attic's insulation. Heat rises so adding good insulation can keep the heat from escaping.
  • Check your heating system. Sometimes something as easy as replacing your filter or having simple maintenance done can save on heating costs.
  • Consider changing from standard light bulbs to energy saving bulbs. Winter uses a lot of your electricity so even saving a little here and there will help.

Whether you live in a warm or cold climate, take this opportunity to inspect your home systems. You'll be money ahead in the long run!

Celebrate the Holidays in Graeagle

The holidays are here and it’s time to celebrate in Graeagle!  Here’s some local holiday events that are sure to put you in the spirit!

Quincy Main Street Sparkle and Light Parade

02-Dec-2016

The Annual Quincy Main Street Sparkle & Light Parade will take place this year in downtown Quincy on Friday, December 2. From 5 p.m. to 8 p.m. For more information, visit the Quincy Chamber at http://www.quincychamber.com

Graeagle Holiday Festival

03-Dec-2016

The Graeagle Holiday Festival in downtown Graeagle will happen Saturday, December 3, 2016 from 1 p.m. to 5 p.m. All events are free. For more information contact the Graeagle Merchants.

Graeagle Church Christmas Eve Service

24-Dec-2016

Graeagle Community Church will hold their Christmas Eve Candlelight Service. December 24th at 7:30 p.m. For more information, contact Pastor Michael Preston at (530) 836-2405.

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Contact Information

Photo of Carol Yeater CRS, GRI, ABR Real Estate
Carol Yeater CRS, GRI, ABR
Sierra Destination Realty
PO Box 323
Clio CA 96106
Carol: 530-592-9606