Millar and Company Presents Russian River Real Estate Market Update October 2014

Guerneville, CA, November 05, 2014 --(PR.com)-- Millar and Company has been tracking the changes in the Russian River Real Estate market between October 2013 and October 2014. The changes in the Russian River Real Estate Market are subtle and due primarily to the approach of the winter season when people typically buy and sell less homes on the Russian River.

The data collected from BAERIS MLS Clarus Report indicates that the Russian River Real Estate market is holding steady. In October of 2013 buyers purchased 25 single family homes on the Russian River. In October 2014 buyers purchased 28 single family homes which is an increase of 12% from last year. The number of single family homes for sale on the Russian River increased from 94 single family homes for sale in October 2013 to 109 homes for sale on the Russian River in October 2014 which is a 16% increase. This is a relatively small increase and lends to the typical fluctuation of the Russian River Real Estate market.

According to the BAERIS MLS Clarus Report the area's average sale price increased 24% from $335,000 in October 2013 to $415,000 in October 2014. This was an $80,000 increase in the average sales price which is a substantial increase for the area. The Russian River is showing very little change 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.

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 is helping keep the market steady.