LAKE COUNTY, Calif. – The median sales price for homes in Lake County rose in November, according to new sales data.

The latest report from the Lake County Association of Realtors shows that the median sales price of single family residences for Lake County rose from $162,500 in October to $187,000 for November.

The November sales price topped the previous high of $185,000 that was reported in July.

The number of units being sold continued to lag behind 2013 sales with 55 units being sold in November 2014 compared to 70 units sold in November 2013.

The pattern of increasing sales prices but lower number of sales when comparing 2014 sales to 2013 sales has been consistent throughout the year.

Inventory levels for both November and October 2014 remained steady at 6.7 months of inventory. Six months of inventory is considered “normal” in the real estate industry.

“The most activity in terms of number of units was in Hidden Valley Lake,” said newly installed 2015 LCAOR President Yvette Sloan. “There was also a fair amount of activity in the Cobb area, the Clear Lake Riviera and the city of Clearlake.”

The percentage of distressed sales – properties that were sold after foreclosure or ones that were sold for less than what was owed – was 20 percent, which was down from 22 percent in October and 26 percent in November of 2013.

Cash financing fell to 22 percent of the sales, which was down from 32 percent in October and 30 percent in November 2013.

Conventional financing accounted for 47 percent of the sales and that matched the November 2013 percentage.

NUMBERS AT A GLANCE

Lake County – November 2014
Median price: $187,000
Median days to sell: 111
Units Sold: 55

Lake County – October 2014
Median price: $162,500
Median days to sell: 75
Units Sold: 63

Lake County – November 2013
Median price: $143,000
Median days to sell: 99
Units Sold: 70

For more information about the Lake County Association of Realtors, visit www.lcaor.com .