Lake County News, California – Real estate market remains strong for sellers; the inventory for buyers is still low



LAKE COUNTY, California. Statistics may change slightly in some places every month, but the picture continues to be positive for people who are selling their homes in Lake County.

However, the market can be a little upsetting for those looking to buy. Stocks are still small, time to market is short, and multiple home offerings are still common.

The current median home price across Lake County was $ 335,000 in June 2021. This is 3.39% more than last year at this time, but $ 25,000 less than last month’s average price of $ 360,000.

May was $ 27,000 higher than April, so we see little fluctuations in the average price from month to month.

The median home price in Lakeport was $ 370,000, down 9.5% from June 2020.

The median home price in Hidden Valley was $ 398,000, up 12.1% from last year and $ 38,000 above the median price of $ 360,000 in May.

The median home price in Kelsyville was $ 334,000, up 7.6%, and the median home price in Clearlake was $ 188,000, up 16% from the same period last year.

Sales of existing homes in the county totaled 107, up 23% from June 2020.

Lakeport sales were 19, up 20.8%; Hidden Valley’s sales were also 19, up 72.7% from the prior year; Home sales in Kelsyville were 24, up 14.3%; and Clearlake home sales were 17, up 88.9%.

In terms of reserves, the number of active listings in the county stood at 168, down 29.1% from last year at this time.

Lakeport had 28 active ads, up 16.7% from last year, and Hidden Valley Lake had 19 active ads, down 51.3%.

Kelseyville had 36 active listings, down 36.8%, and Clearlake had 28 active listings, down 30%.

County-wide, the number of days on the market remains very low, averaging 12 days in June 2021. The selling price is still on average 100% of the list price. But price declines still occur when property prices are inflated: 32.1% of active listings have price declines as of June 2021.

On average, Lakeport had six days on the market with 100% list price sales and 39.3% active listings with price cuts in June.

Lake Hidden Valley was on the market for an average of seven days with list sales at 100% and 10.5% of homes with declining prices.

In Kelsyville, the overall median number of days in the market was slightly higher at 18 days, with sales at list price of 100% and a larger decline of 41.7%.

Clearlake averaged seven times in the market, with 98% list sales and 28.6% discounted listings.

The bottom line is that if you are thinking about selling, set the right price and you should have a quick, successful sale.

If you are thinking of buying, get it prepared and anticipate competition.

Tama Prokopovich is President-elect of the Lake County Association of Realtors.


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