Shasta County home prices since the turn of the century
Shaasta County Average home prices - click to enlarge
I charted numbers from the local MLS to get the average home price for every home sold in Shasta County in six month intervals since 2000. You can click on the chart to enlarge, but even small, the trend is evident. Home prices started out in the first half of 2000 at an average of $138,327 each, or $79 per sq ft. Prices peaked in the first half of 2006 at $328,753, or $202 per sq ft. For the first half of 2010, the average home price was $202,361, or $118 per sq ft.
Real estate as an investment is typically a long term affair, unless we have a bubble. If you bought in 2000 and held, it looks like you've done OK despite the bubble. If you bought in 2000 and sold in early 2006, you killed. If you bought in the bubble, you got killed. Such is the lethal nature of investment hysteria.
Longtime readers will recall this chart from the California Association of Realtors for median home prices statewide. Median price is different than average price, but in general comparison, Shasta County never reached as high, or fell as far, as the rest of the state. A kinder, gentler bubble.
The chart below shows the number of homes sold in the periods corresponding to the first chart. A total of 23,985. There was a lot more activity in the first half of the decade.
Shasta County home sales numbers - click to enlarge
During the first 6 months of 2000, there were 1040 sales transactions. At the peak of activity in the second half of 2005, that number was 1539. In real estate jargon, there are 2 "sides" to every transaction, so agent work went from 2080 sides, to 3078 sides in that heady 5 years. It then fell to a low of 1456 sides in the first half of 2008, so the amount of available work dropped by more than half in just 3 years.
Yes, I am aware nobody cries big tears for underemployed real estate agents. Nobody but other real estate agents and their brokers, anyway. But pause to consider the ripple effect that money had in the first half of the decade. Construction, supply, administration, taxation, all in nearly exponential growth, and then abrupt steeper decline. And then here we are.
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Foreclosure Deal of the Day
- 29297 Johnson Ranch Round Mountain 96084 2046 sqft 3/2 on 9.8 acres $228,900 May 16, 2013Here’s a foreclosed Chalet style home in the woods out of Round Mountain in Shasta County “Serene setting in the country near Round Mountain. Treed acreage with unique style home. Mountain type home has 2000+ sf according to county records and is on 9.840 acres. Open floor plan on a raised foundation. Home is all […]
- 2394 Walton Shasta Lake City 96019 HUD home $50,000 May 15, 2013Here’s a 1981 built 1168 sqft 3/2 in Coeur d’Alene Estates at an attractive price. “HUD Home Opportunity. Contractor Special. Repairs exceed 5k. Roof leak/damage. FHA 203b (repair escrow up to $5k) and FHA 203k (rehab loan over $5k) are excellent loans for this property. All repairs must be built into the buyer’s loan. […]
- Buy bank-owned Deer Creek Manor, an unfinished subdivision May 14, 2013Just $2.789M. So less than $40K per view lot. Provided marketing images include dark clouds. Metaphor? An appraiser who also serves on a planning commission for Redding came to our MLS meeting recently and estimated that it would cost at least $50K to develop any new lot around here, not counting the land purchase price. […]
- Grey Fawn Trail – OBrien Mountain masterpiece view estate goes to auction May 13, 2013We count this as high among our top few most beautiful local foreclosure homes we’ve ever seen. Longtime viwers will recall when we first ran this as OBrien Mountain home as FDotD, 8 months ago. There are many more images of this architect’s home with a view of Shasta Dam at the link. Well worth […]
- 21176 Shelly Lane Anderson 96007 Was $299K Now $130,000 May 11, 2013Here’s an interesting 1988 built 1782 sqft 3/2 on 1.2 acres near Anderson. We see that it once listed at $299K, then later as a failed short sale at $229K, and finally as a foreclosure at $205K. Get it for less now. There are more images of this Balls Ferry area rural home at the […]
- 15330 China Rapids Red Bluff 96080 Sacramento River View $293,500 May 10, 2013We often point out that Sacramento River views are our local beachfront equivalent. “Open floor plan with woodstove in livingroom, hardwood floors in kitchen and dining area, circular driveway, large fenced backyard with views of the sacramento river” So writes the agent representing the government’s interests in this sale, foreclosure listing broker Al Nati […]
- 1325 Mistletoe Redding 96002 Was $290K Now $165,000 May 8, 2013Here’s a ’61 built 1344 sqft 3/2 on a centrally located .47 acre lot in Redding. “Beautiful interior including oak cabinetry,wood floors, modern kitchen appliances, installed alarm and living room gas fireplace. Freddie Mac First Look initiative in effect until 5/22/13.” So writes the foreclosure listing agent representing the interests of your government in […]
- 105 West Bridge Street Fort Bidwell 96112 Historical Home $87,900 May 6, 2013We don’t see many foreclosed forts in these parts. Fort Bidwell has an old west history dating back to 1865 you can read at the link. It’s a Fannie Mae asset now, and they want to sell it to you. Representing the interests of your current government is foreclosure listing agent Leann Smith of Susan […]
- 3675 Sacramento Redding 96001 ’08 Summerfield Meadows HUD $260,000 May 4, 2013Here’s a lovely modern Ochoa & Shehan home, now owned by us taxpayers through HUD. Hey, where’d the appliances go? Oh well, the appliance fairy giveth, and the appliance fairy taketh away. I’m sure the proper loss prevention authorities are “on it” (wink). This is a nice neighborhood, and the soil is really excellent, so […]
- 4618 LOCH Place SJASTA :ALE, CA 96019 HUD home $110,000 May 3, 2013Barkeep, draw a pint of Sjasta :Ale for us. Whilst we look over this HUD home in Shasta Lake City. We like Loch Place, a short street near Deer Creek Estates. Representing the interests of the government in this sale is foreclosure listing agent Jeanean Gendron of Real Living. She writes of it: “HUD Home […]
