$569K  
The number of sellers reducing prices in the Palermo market trended up to five over the last 30 days, extending a three-week streak. During the same period, two sales were completed. As the number of sellers reducing price trended higher, months of inventory continued to fall, trending downwards for four weeks to reach seven months. With decreasing sales and the availability of so much inventory, Palermo is a strong buyer's market.
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Palermo is an average-sized city in California that has seen a 10.6% increase in population over the last 10 years. It also has a total population of 5,382. With a median age of 34 years, homes in Palermo tend to be relatively old. Heading the list of top schools in the city is Spring Valley Elementary School.
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$279K  
Home sales in the Palermo market remained cold in this week's report as they fell 33.3% to two homes sold over the last 30 days. Within the same time frame, Oroville East had 16 sales, the most of all cities in the area. The median sales price of homes sold came in at $111,000, which extended a downward swing in price to four weeks. Along with the falling prices, the relatively large eight months of inventory means that Palermo is a solid buyer's market.
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$275K  
The number of sellers who put their homes up for sale in the Palermo market over the last 30 days remained flat this week at six. Home sales also remained unchanged from the prior period and once again five homes were sold. Pricing in Palermo remains consistent from last week to this week, with the median sales price at $169,000 again. Despite the flat sales, a relatively low three months of inventory remaining indicates that Palermo is a seller's market.
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$399K  
The number of home sales in the Palermo market shot up 25.0% to five homes over the last 30 days. Within the same time frame, Oroville East had 14 sales, the most of all cities in the area. The median sales price dropped to $169,000 over the latest reporting period for Palermo, down from $194,500. The rising sales and a low three months of inventory point to Palermo being a seller's market.
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$1.2M  
The Palermo market got a lift this week as sales rose to four homes sold over the last 30 days to go with a solid upward trend of contracts closing, now up to four. All indications show that the trend may be coming to an end, meaning less pending transactions over the next few weeks. The median sales price dropped to $194,500, potentially helping to reduce the four months of inventory left to be sold.
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$334K  
Palermo is younger than the rest of California, with a median age of 41. It's much less affluent than average as well, with a median income of $37,256 per household. The Palermo market almost exclusively consists of detached houses, accounting for 100% of the current homes in the area. Topping the list of best schools in the city is Spring Valley Elementary School.
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$334K  
There were two home sales in the Palermo market over the last 30 days. Within the same time frame, Oroville East had 16 sales, the most of all cities in the area. Potential buyers should note that prices are coming down in Palermo, and for this period the median sales price slid from $274,000 to $237,500. Even after the uptick in sales, an elevated seven months of inventory tells us that Palermo is still a solid buyer's market.
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$395K  
The number of sellers who put their homes up for sale in the Palermo market over the last 30 days remained flat this week at five. Home sales also remained unchanged from the prior period and once again one home was sold. The amount of available homes increased to 15 months worth, a three-month high. Palermo is a strong buyer's market, due to the large amount of inventory left and aided by the dip in sales.
Comments:

$395K  
The Palermo market may improve in the short term. While one home was sold over the last 30 days, the number of contracts executed rose to four, the highest amount in three months. In comparison, Oroville East led all other nearby municipalities with 16 contracts executed. The median sales price climbed to $274,000, up from last week's $245,500. Palermo is a definite buyer's market, thanks to a big 14 months of inventory to choose from and a pullback in sales.
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