LAKE COUNTY, Calif. – The Lake County Association of Realtors reported that September real estate sales in Lake County were up nearly 25 percent from sales in September 2018.

There were 76 sales of single-family residences in September compared to 61 sales in September 2018.

Month-to-month sales dropped by 5 percent. August had 80 sales, the association reported.

Median sales prices performed the opposite of the number of sales. Month to month the median sales price increased 5.8 percent going from $259,500 in August to $274,500 in September.

The year to year median sales price dropped from $281,500 in September 2018 accounting for a 2.5 percent change.

“Interest rates are nearly at the best they have been in three years,” said Lake County Association of Realtors President Mary Benson. “With prices remaining relatively flat more buyers are able to qualify to purchase a home and realize the dream of homeownership.”

On the financing side of the business cash buyers purchased 25 percent of the sold homes, conventional loans 46.25 percent and FHA 7.5 percent. VA loans accounted for 7.5 percent of the sales and USDA loans 2.5 percent.

On a statewide basis the California Association of Realtors, or CAR, reported that the median sales price in California for September was $605,680, down 1.9 percent from August and up 4.7 percent from September 2018.

Existing, single-family home sales totaled 404,030 in September on a seasonally adjusted annualized rate, down 0.5 percent from August and up 5.8 percent from September 2018.

The 30-year, fixed-mortgage interest rate averaged 3.61 percent in September, down from 4.63 percent in September 2018, according to Freddie Mac. The five-year, adjustable mortgage interest rate was an average of 3.38 percent, compared to 3.68 percent in September 2018.

LAKE COUNTY NUMBERS AT A GLANCE

September 2019
Median price: $274,500
Units sold: 76
Median days to sell: 57

August 2019
Median price: $252,500
Units sold: 80
Median days to sell: 46

September 2018
Median price: $281,500
Units sold: 61
Median days to sell: 58