Pollock Pines Real Estate Market
Pollock Pines sellers had a tough time closing escrow in November compared to November of last year, but those who did realized a 22.5% appreciation.
Only twelve homes sold in Pollock Pines in November, compared to twenty-seven that sold in November of 2004. The average sale price was $355,792, or 98.7% of the average list price, which was $360,617. The median sale price was fairly close to these numbers at $364,250.
Readers of this blog are probably familiar enough with what I’m going to say next: days on market are up, the expired to sold ratio is up, and inventory is high.
You’re right, I’m going to say it.
Actually the days on market number is not to bad, having increased from 33 on average to 41. Inventory is “worse” — at 8.6 months.
But if there’s one single place where the buyer’s market devil is in the details for Pollock Pines, it’s in the number of expired listings. Old Beelzebub seems to have rubbed his cloven hoofprints particularly over these numbers. Last November, no listings expired in Pollock Pines. (Sure, something might have expired while pending, but those often turn to solds so we don’t even count them). So the expired to sold ratio? You guessed it: zero. Goose egg.
This November, in contrast, eleven listings expired while twelve listings sold, putting the expired to listings ratio at 11/12, or 91.7%. Ouch. Might as well flip a coin!
I’ll try to have more to say about expired listings in a future post.
