Weekly Paradise Real Estate Market Update

Attention prospective Paradise real estate buyers, the sellers want you to know that they are willing to negotiate.  We saw 27 price reductions take place last week as Paradise sellers attempt to get their properties noticed at the start of our spring market.  Activity seems to be keeping the same pace as the last couple of weeks with 12 properties closing escrow and 7 properties moving under agreement.  Currently there are a total of 316 listings comprising the inventory of the Paradise real estate market, with 215 of those listings being single family homes.  There was a huge spike in activity in the single family homes under $250,000 with 30% of the current listings being under agreement.  Another area that experienced a spike was those homes priced between $350,000 and $450,000 as 24% of them are now under agreement.  Interest rates are still strong and competitive at  6.24% for a 30 year fixed rate mortgage.