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Hi Pete
Currently, there is about a 9.5 month inventory of SFRs in Lakeland Hills. Median sales price is $299,950, compared to $361,500 over the corresponding period one year ago (17%). Condos are even more dismal, with a 19 month supply and a median price of $212,000, down from $245,000 a year ago (13.5%). An unusually high rate of foreclosures is contibuting to the dramatic decline.
The larger Auburn area (including downtown, west and east hills, and Algona and Pacific, in addition to Lakeland) shows a 13.5 month inventory for SFRs, and a median price of $268,850, down 14.9% from $315,950 last year.
Last year, 252 homes sold after a median 67 days on the market; this year, marketing time dropped slightly to 65 days, but only 152 homes have sold.
Hope this helps!
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Auburn Real Estate Market?
pete quinlan, "socalchet"
Contributions: 11
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How is the Auburn Real Estate market holding up? I know Lakeland Hills seems to be slowing but there still seems to be some action! Anyone have any information on the state of the local market?
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