A stronger week for the Magalia real estate market than what we have been seeing in week's past. There were 6 properties that closed escrow and 4 properties that went under agreement. As expected, the majority of the Magalia real estate activity continues to be seen on those single family homes listed under $250,000, as well as manufactured homes.
Other activity in the Magalia real estate market included 7 new listings and 16 price reductions. The Magalia sellers have been continuing to lower the prices of their listings week after week in an attempt to get the attention of Magalia area buyers. Great interest rates seen this week, with a slight drop to 6.05% for a 30 year fixed rate mortgage.
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