Pollock Pines Real Estate Market Update: December 2008
An unhurried lifestyle and an unhurried real estate market. These seem to be the hallmarks of Pollock Pines, or maybe it was just all the snow around December. Whatever the case, the real estate market up here is lackadaisical at best. A mere 8 homes sold this month: 3 forecloures and 5 non-distressed homes! Yes, this is one of the rare areas where non-distressed homes are preferred by buyers over foreclosure sales as evidenced by the numbers! Unit volume was down however by 33.3% year over year.
Sold price per square foot is unchanged over last month, but we do see a drop of 19.5% when compared with last year at the same time: from $171.97 to $138.50. Average sales price has fallen 21.3% for the same period - where last year it was $305,125 today it is $240,200. (This in however higher than last month’s average sales price of $224,273.) Median sales price has seen a drop of 20% from $292,500 to $232,799. (Again, better than last month’s $210,000.)
Inventory is at 11.8 and 12 months based respectively on the last 12 months and 6 months of sales. Yes, it’s an unhurried marketplace all right.
