EUREKA AREA HOME SELLING TRENDS
 
Eureka real estate expert, DEAN KESSLER of THE KESSLER REAL ESTATE TEAM is reporting home sales soared upwards 41% last month.
 
Kessler notes “The average sales price of a single family home in Eureka increased 14% last month to $281,055 compared to December 2008, but declined 9.9% from the same reporting period one year ago.”
 
Kessler went onto say “In many sales, the increase in sales price may be artificial as Buyer Agents are negotiating with Sellers to pay a hefty portion of the Buyer’s closing costs in the sales price. This can inflate the sales price upwards an additional 6% above the Sellers asking price. The good news, it allows the Seller to sell and the Buyer to buy.”
 
The chart below shows real estate activity for the Eureka area as compared to the same time last year.
 
 
January 2009
% Change
January 2008
Active Listings
240
-9.2
262
Sales
29
+3.4
28
Short
Sales
1
+100
0
Bank Owned Sales
6
+100
3
Average Sales Price
$281,055
-9.9
$308,970
Time Supply of Inventory (months)
8.3
-13.3
9.4
 
A quick look at the least and most expensive homes sold in the Eureka area include a $155,000 2bed/1bath home “Bank-owned” sale in Myrtletown and a $441,000 3bed/2bath “New Construction” sale in Cutten.
 
The top 3 categories of Home Buyers last month include:
 
·34% were investors
·21% were 1st time homebuyers
·14% were buyers relocating to the area
 
 
Dean Kessler
 

All statistics courtesy HMLS.