Russian River Market Update for September 2014

Russian River, CA, October 17, 2014 --(PR.com)-- The Russian River Real Estate market is steady. The data collected from BAERIS MLS Clarus Report indicates the market is alive and well in this area. In September of 2013 buyers purchased 23 single-family homes on the Russian River. In September 2014 buyers purchased 26 single-family homes which is an increase of 13% from last year. The number of single-family homes for sale on the Russian River increased from 111 houses on the market in September 2013 to 124 in September 2014 which is an increase of 12% in one year.

According to the BAERIS MLS Clarus Report the area's average sales price dropped from $334,000 in September 2013 to $330,000 in September 2014. Although there was a drop in the average sales price the amount was relatively small and the area is showing an increase in the number of people looking to invest in Russian River Real Estate. Inventory remained at about a two month's supply at the current pace of sales. That is widely considered a sign of a seller's market.

According to local lending agencies interest rates on home loans are in the low fours depending on the loan and the onset of additional FHA and VA programs are making it easier for buyers to find loans which, combined with the low inventory, is driving the market up in this area.