Mariposa (Ca.) and central Sierra foothills real estate sales and property management and rentals

January 2012 Mariposa 2011 Closing Statistics

National news shows that Jobs are up and the Real Estate market is slightly brighter than in the earlier months of this year. It shows new housing starts are up and the inventory is down for existing home sales. Mariposa typically lags the rest of the world so maybe the improvement will catch up with us in 2012.

Looking at the southern 4 zip codes in Mariposa County, 95338,95345,95306, 95325 for this report. (this is due to the area that Mariposa County Board of Realtors services). The current inventory (residential properties for sale) is 75, 68 of which are single family, 6 mobiles/manufactured, 1 commercial/residential. Unimproved properties number 113. You can buy 5.48 acres for as low as $22,000 today. Banks are still resisting financing for unimproved properties.

2010 Residential Total # Sales	Av Price	Av price per Square Foot	% change
102	$224,566.00	$131 per /sf
2011 Residential
130	$182,352.00	$104 per /sf	dn 21% in price up 22% in qty

2010 Land/Lots Total # Sales	Av Price	Av price	% change
30	$121,730.00	$17,236 per Acre
2011 Land/Lots
23	$ 88,186.00	$20,412 per Acre	up 15% in price dn 24% in qty

Some other facts to be noted, of the 130 residential sales 68 were distressed sales (Foreclosures & short Sales) which is 52% of the total for the year. Breaking down the distressed properties versus the standard sales we find:

2011 Distressed Sales	Av Price	Av price	% difference
30	$169,978	93.78 / sq ft
2011 Standard Sales
23	$228,728	$120.89 / sq ft	22.5% higher for Standard

The good news is that Mortgage Rates remain at record lows. 30 year fixed at 4% or less for buyers with perfect credit. That is as low at $477 per month (principal & Interest) for a $100,000.00 mortgage. It is a strong Buyers Market.

Of the 130 residential properties sold in South County Mariposa 58 (44%) were listed by agencies outside Mariposa county. We did a little better job on sales. 97 (75%) of the 130 were sold by local agents.

JERRY FEROBEN

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