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California Association of Realtors meet in Humboldt County
BAYSIDE - The California Association of Realtors met in Humboldt County Thursday to discuss the local real estate market.
More than 80 realtors and associates gathered in the Baywood Golf Course Clubhouse for lunch. Legal and legislative issues were discussed as well as supply and demand, inventory of available houses, and where Humboldt County sits in comparison to the rest of the state.
The 2014 president of the association said the Humboldt County real estate market is distinct, especially when it comes to inventory.
"You guys have inventory. In California, one of the things hurting our market is there’s a lack of inventory. Prices are extremely high, statewide. The median price is approximately $480,000 as of last month and that has to do just with supply and demand. There is a limited supply of homes on the market. In a lot of areas in California, there might be anywhere between one and three months of inventory. So Humboldt County has approximately seven months of inventory which is double, sometimes triple, what the rest of California has," Kevin Brown, President of the California Association of Realtors, said.