CA Weekly Statistics As Of November 28th, 2008
November 28, 2008
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| Minimum, Average, Maximum | |
| Days On Market Analysis | |
Area Market Survey
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| Listings as of 11/28/08 at 10:59am |
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| Equal Opportunity Housing * All information deemed reliable, but not guaranteed. |
| Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market Copyright ©2008 Rapattoni Corporation. All rights reserved. |
Area Market Survey
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| Listings as of 11/28/08 at 11:01am |
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| Equal Opportunity Housing * All information deemed reliable, but not guaranteed. |
| Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market Copyright ©2008 Rapattoni Corporation. All rights reserved. |
What you are looking at are numbers derived from the South Tahoe Association Of Realtors Multiple Listing Service for Single Family Homes only. The reason that I use this segment of the market is that it has the most influence on the general value trends.
This week shows that the inventory is holding steady. The Pending escrows is now at about 11.5%. This represents a decline in pending escrows from last week by eight escrows. Overall it is still better than last year and it’s still close to this year’s average. At this rate, I’m still predicting that the 4th quarter will show the most units sold and the most volume sold for the year. We are definitely closing 2008 on a strong note.
Weekly Statistics As Of November 27th, 2008
November 27, 2008
| Status | Class | Type | Price Range | No. of Listings | Dollar Volume | Average Price | Median Price | Average DOM |
|---|---|---|---|---|---|---|---|---|
| ACTIVE | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| $395,000 - $399,999 | 2 | $798,900 | $399,450 | $399,450 | 77 | |||
| $405,000 - $409,999 | 1 | $405,000 | $405,000 | $405,000 | 70 | |||
| $410,000 - $414,999 | 1 | $412,500 | $412,500 | $412,500 | 24 | |||
| $425,000 - $429,999 | 1 | $429,000 | $429,000 | $429,000 | 66 | |||
| $445,000 - $449,999 | 2 | $894,000 | $447,000 | $447,000 | 194 | |||
| $465,000 - $469,999 | 1 | $465,000 | $465,000 | $465,000 | 638 | |||
| $475,000 - $479,999 | 2 | $954,000 | $477,000 | $477,000 | 444 | |||
| $500,000 - $504,999 | 1 | $500,000 | $500,000 | $500,000 | 30 | |||
| $545,000 - $549,999 | 1 | $549,900 | $549,900 | $549,900 | 47 | |||
| $550,000 - $554,999 | 1 | $550,000 | $550,000 | $550,000 | 207 | |||
| $555,000 - $559,999 | 1 | $555,000 | $555,000 | $555,000 | 229 | |||
| $560,000 - $564,999 | 1 | $563,299 | $563,299 | $563,299 | 147 | |||
| $585,000 - $589,999 | 3 | $1,763,000 | $587,667 | $589,000 | 123 | |||
| $595,000 - $599,999 | 5 | $2,987,900 | $597,580 | $599,000 | 175 | |||
| $610,000 - $614,999 | 1 | $613,900 | $613,900 | $613,900 | 35 | |||
| $635,000 - $639,999 | 2 | $1,278,000 | $639,000 | $639,000 | 124 | |||
| $645,000 - $649,999 | 1 | $645,000 | $645,000 | $645,000 | 234 | |||
| $650,000 - $654,999 | 1 | $650,000 | $650,000 | $650,000 | 70 | |||
| $685,000 - $689,999 | 1 | $689,500 | $689,500 | $689,500 | 118 | |||
| $695,000 - $699,999 | 3 | $2,093,000 | $697,667 | $699,000 | 324 | |||
| $715,000 - $719,999 | 2 | $1,434,000 | $717,000 | $717,000 | 133 | |||
| $725,000 - $729,999 | 3 | $2,179,500 | $726,500 | $725,000 | 180 | |||
| $745,000 - $749,999 | 1 | $749,000 | $749,000 | $749,000 | 137 | |||
| $750,000 - $754,999 | 1 | $750,000 | $750,000 | $750,000 | 113 | |||
| $775,000 - $779,999 | 1 | $775,000 | $775,000 | $775,000 | 6 | |||
| $795,000 - $799,999 | 1 | $799,000 | $799,000 | $799,000 | 42 | |||
| $845,000 - $849,999 | 3 | $2,543,444 | $847,815 | $848,445 | 222 | |||
| $875,000 - $879,999 | 2 | $1,750,000 | $875,000 | $875,000 | 186 | |||
| $885,000 - $889,999 | 1 | $885,000 | $885,000 | $885,000 | 110 | |||
| $975,000 - $979,999 | 1 | $975,000 | $975,000 | $975,000 | 153 | |||
| $990,000 - $994,999 | 1 | $990,000 | $990,000 | $990,000 | 147 | |||
| $995,000 - $999,999 | 3 | $2,985,000 | $995,000 | $995,000 | 488 | |||
| $1,050,000 - $1,054,999 | 1 | $1,050,000 | $1,050,000 | $1,050,000 | 50 | |||
| $1,085,000 - $1,089,999 | 1 | $1,088,000 | $1,088,000 | $1,088,000 | 74 | |||
| $1,090,000 - $1,094,999 | 2 | $2,180,000 | $1,090,000 | $1,090,000 | 331 | |||
| $1,095,000 - $1,099,999 | 2 | $2,190,000 | $1,095,000 | $1,095,000 | 453 | |||
| $1,100,000 - $1,104,999 | 1 | $1,100,000 | $1,100,000 | $1,100,000 | 92 | |||
| $1,145,000 - $1,149,999 | 1 | $1,145,000 | $1,145,000 | $1,145,000 | 101 | |||
| $1,195,000 - $1,199,999 | 1 | $1,195,000 | $1,195,000 | $1,195,000 | 436 | |||
| $1,200,000 - $1,204,999 | 1 | $1,200,000 | $1,200,000 | $1,200,000 | 486 | |||
| $1,245,000 - $1,249,999 | 2 | $2,498,000 | $1,249,000 | $1,249,000 | 195 | |||
| $1,250,000 - $1,254,999 | 1 | $1,250,000 | $1,250,000 | $1,250,000 | 193 | |||
| $1,295,000 - $1,299,999 | 2 | $2,590,000 | $1,295,000 | $1,295,000 | 270 | |||
| $1,320,000 - $1,324,999 | 1 | $1,320,000 | $1,320,000 | $1,320,000 | 135 | |||
| $1,385,000 - $1,389,999 | 1 | $1,385,000 | $1,385,000 | $1,385,000 | 468 | |||
| $1,395,000 - $1,399,999 | 1 | $1,399,000 | $1,399,000 | $1,399,000 | 136 | |||
| $1,425,000 - $1,429,999 | 1 | $1,425,000 | $1,425,000 | $1,425,000 | 301 | |||
| $1,445,000 - $1,449,999 | 2 | $2,894,000 | $1,447,000 | $1,447,000 | 141 | |||
| $1,495,000 - $1,499,999 | 2 | $2,994,000 | $1,497,000 | $1,497,000 | 353 | |||
| $1,595,000 - $1,599,999 | 1 | $1,595,000 | $1,595,000 | $1,595,000 | 212 | |||
| $1,600,000 - $1,604,999 | 1 | $1,600,000 | $1,600,000 | $1,600,000 | 12 | |||
| $1,650,000 - $1,654,999 | 2 | $3,300,000 | $1,650,000 | $1,650,000 | 160 | |||
| $1,750,000 - $1,754,999 | 1 | $1,750,000 | $1,750,000 | $1,750,000 | 131 | |||
| $1,785,000 - $1,789,999 | 1 | $1,785,000 | $1,785,000 | $1,785,000 | 147 | |||
| $1,795,000 - $1,799,999 | 3 | $5,385,000 | $1,795,000 | $1,795,000 | 294 | |||
| $1,950,000 - $1,954,999 | 1 | $1,950,000 | $1,950,000 | $1,950,000 | 524 | |||
| $1,975,000 - $1,979,999 | 1 | $1,975,000 | $1,975,000 | $1,975,000 | 119 | |||
| $1,995,000 - $1,999,999 | 3 | $5,985,000 | $1,995,000 | $1,995,000 | 148 | |||
| $2,100,000 - $2,104,999 | 2 | $4,200,000 | $2,100,000 | $2,100,000 | 525 | |||
| $2,195,000 - $2,199,999 | 1 | $2,195,000 | $2,195,000 | $2,195,000 | 321 | |||
| $2,275,000 - $2,279,999 | 1 | $2,275,000 | $2,275,000 | $2,275,000 | 364 | |||
| $2,295,000 - $2,299,999 | 2 | $4,590,000 | $2,295,000 | $2,295,000 | 178 | |||
| $2,300,000 - $2,304,999 | 1 | $2,300,000 | $2,300,000 | $2,300,000 | 167 | |||
| $2,450,000 - $2,454,999 | 2 | $4,900,000 | $2,450,000 | $2,450,000 | 108 | |||
| $2,455,000 - $2,459,999 | 1 | $2,459,000 | $2,459,000 | $2,459,000 | 150 | |||
| $2,495,000 - $2,499,999 | 3 | $7,485,000 | $2,495,000 | $2,495,000 | 124 | |||
| $2,550,000 - $2,554,999 | 1 | $2,550,000 | $2,550,000 | $2,550,000 | 620 | |||
| $2,580,000 - $2,584,999 | 1 | $2,580,000 | $2,580,000 | $2,580,000 | 140 | |||
| $2,595,000 - $2,599,999 | 1 | $2,595,000 | $2,595,000 | $2,595,000 | 346 | |||
| $2,700,000 - $2,704,999 | 1 | $2,700,000 | $2,700,000 | $2,700,000 | 87 | |||
| $2,750,000 - $2,754,999 | 2 | $5,500,000 | $2,750,000 | $2,750,000 | 314 | |||
| $2,795,000 - $2,799,999 | 2 | $5,593,000 | $2,796,500 | $2,796,500 | 442 | |||
| $2,850,000 - $2,854,999 | 1 | $2,850,000 | $2,850,000 | $2,850,000 | 623 | |||
| $3,390,000 - $3,394,999 | 1 | $3,394,000 | $3,394,000 | $3,394,000 | 262 | |||
| $3,495,000 - $3,499,999 | 1 | $3,495,000 | $3,495,000 | $3,495,000 | 183 | |||
| $3,800,000 - $3,804,999 | 1 | $3,800,000 | $3,800,000 | $3,800,000 | 436 | |||
| $3,895,000 - $3,899,999 | 1 | $3,899,900 | $3,899,900 | $3,899,900 | 473 | |||
| $3,995,000 - $3,999,999 | 2 | $7,994,999 | $3,997,500 | $3,997,500 | 129 | |||
| $4,495,000 - $4,499,999 | 1 | $4,495,000 | $4,495,000 | $4,495,000 | 147 | |||
| $4,750,000 - $4,754,999 | 2 | $9,500,000 | $4,750,000 | $4,750,000 | 378 | |||
| $4,950,000 - $4,954,999 | 1 | $4,950,000 | $4,950,000 | $4,950,000 | 230 | |||
| $5,250,000 - $5,254,999 | 1 | $5,250,000 | $5,250,000 | $5,250,000 | 547 | |||
| $5,395,000 - $5,399,999 | 1 | $5,395,000 | $5,395,000 | $5,395,000 | 524 | |||
| $5,400,000 - $5,404,999 | 1 | $5,400,000 | $5,400,000 | $5,400,000 | 218 | |||
| $5,500,000 - $5,504,999 | 2 | $11,000,000 | $5,500,000 | $5,500,000 | 449 | |||
| $5,595,000 - $5,599,999 | 1 | $5,595,000 | $5,595,000 | $5,595,000 | 191 | |||
| $5,895,000 - $5,899,999 | 1 | $5,895,000 | $5,895,000 | $5,895,000 | 43 | |||
| $5,900,000 - $5,904,999 | 1 | $5,900,000 | $5,900,000 | $5,900,000 | 192 | |||
| $5,950,000 - $5,954,999 | 2 | $11,900,000 | $5,950,000 | $5,950,000 | 156 | |||
| $5,995,000 - $5,999,999 | 4 | $23,980,000 | $5,995,000 | $5,995,000 | 362 | |||
| $6,495,000 - $6,499,999 | 1 | $6,495,000 | $6,495,000 | $6,495,000 | 943 | |||
| $6,500,000 - $6,504,999 | 1 | $6,500,000 | $6,500,000 | $6,500,000 | 7 | |||
| $7,495,000 - $7,499,999 | 1 | $7,495,000 | $7,495,000 | $7,495,000 | 510 | |||
| $7,750,000 - $7,754,999 | 1 | $7,750,000 | $7,750,000 | $7,750,000 | 15 | |||
| $9,495,000 - $9,499,999 | 1 | $9,495,000 | $9,495,000 | $9,495,000 | 528 | |||
| $11,250,000 - $11,254,999 | 1 | $11,250,000 | $11,250,000 | $11,250,000 | 472 | |||
| $32,500,000 - $32,504,999 | 1 | $32,500,000 | $32,500,000 | $32,500,000 | 38 | |||
| $100,000,000 - $100,004,999 | 1 | $100,000,000 | $100,000,000 | $100,000,000 | 797 | |||
| Sub Total | 143 | $446,940,742 | $3,125,460 | $1,445,000 | 247 | |||
| New | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| $500,000 - $504,999 | 1 | $500,000 | $500,000 | $500,000 | 2 | |||
| Sub Total | 1 | $500,000 | $500,000 | $500,000 | 2 | |||
| Price Reduced | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| $500,000 - $504,999 | 1 | $500,000 | $500,000 | $500,000 | 84 | |||
| $750,000 - $754,999 | 1 | $750,000 | $750,000 | $750,000 | 139 | |||
| $1,995,000 - $1,999,999 | 1 | $1,995,000 | $1,995,000 | $1,995,000 | 408 | |||
| Sub Total | 3 | $3,245,000 | $1,081,667 | $750,000 | 210 | |||
| Grand Totals | 147 | $450,685,742 | $3,065,889 | $1,425,000 | 245 | |||
| Status | Class | Type | Price Range | No. of Listings | Dollar Volume | Average Price | Median Price | Average DOM |
|---|---|---|---|---|---|---|---|---|
| Active/Pending-Call | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| $325,000 - $329,999 | 1 | $329,900 | $329,900 | $329,900 | 30 | |||
| $625,000 - $629,999 | 1 | $629,900 | $629,900 | $629,900 | 56 | |||
| $2,995,000 - $2,999,999 | 1 | $2,995,000 | $2,995,000 | $2,995,000 | 1133 | |||
| $4,995,000 - $4,999,999 | 1 | $4,995,000 | $4,995,000 | $4,995,000 | 222 | |||
| Sub Total | 4 | $8,949,800 | $2,237,450 | $1,812,450 | 360 | |||
| Active/Pending-Loan | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| $355,000 - $359,999 | 1 | $357,500 | $357,500 | $357,500 | 92 | |||
| Sub Total | 1 | $357,500 | $357,500 | $357,500 | 92 | |||
| Active/Pending-Short Sale | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| $1,495,000 - $1,499,999 | 1 | $1,495,000 | $1,495,000 | $1,495,000 | 92 | |||
| Sub Total | 1 | $1,495,000 | $1,495,000 | $1,495,000 | 92 | |||
| PENDING-No Show | ||||||||
| RESIDENTIAL | ||||||||
| Residential | ||||||||
| $400,000 - $404,999 | 1 | $400,000 | $400,000 | $400,000 | 63 | |||
| Sub Total | 1 | $400,000 | $400,000 | $400,000 | 63 | |||
| Grand Totals | 7 | $11,202,300 | $1,600,329 | $629,900 | 241 | |||
These statistics were derived from the Northern Nevada Regional Multiple Listing Service (NNRMLS). There are two charts which are Active listings currently on the market and current Pending Sales. The numbers were derived for single family homes on the East Shore of Lake Tahoe in Nevada.
I use these statistics to track trends in the market activity. With 147 active listings and 7 pending sales, this equates to 4.5%. This is my first record for Nevada so I don’t have anything past stats to compare with. However, based on my experience of the past, this is low compared to the peak of the market activity in 2005, which was closer to 7%. When compared to across the border in South Lake Tahoe, CA., it is slower activity. Comparatively, the California side has always been more active than the Nevada side.
C.A.R. Reports Sales Increased 117.1 Percent In Ocotber
November 27, 2008
Print
Tuesday, Nov. 25, 2008
C.A.R. reports sales increased 117.1 percent; median home price fell 39.9 percent in October
LOS ANGELES (Nov. 25) – Home sales increased 117.1 percent in October in California compared with the same period a year ago, while the median price of an existing home fell 39.9 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
“Statewide sales increased significantly in October to 552,750 homes on an annualized basis, the highest sales level since late 2005,” said C.A.R. President James Liptak. “The record gain stemmed primarily from extremely large increases in regions with a high concentration of distressed sales.
“Most October sales likely opened escrow prior to the beginning of the ongoing freeze in the financial markets. We won’t have a clear picture of the full impact of the fallout until November and December sales are reported,” Liptak added.
Closed escrow sales of existing, single-family detached homes in California totaled 552,750 in October at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 117.1 percent from the revised 254,650 sales pace recorded in October 2007. Sales in October 2008 increased 9.5 percent compared with the previous month.
The statewide sales figure represents what the total number of homes sold during 2008 would be if sales maintained the October pace throughout the year. It is adjusted to account for seasonal factors that typically influence home sales.
The median price of an existing, single-family detached home in California during October 2008 was $311,060, a 39.9 percent decrease from the revised $517,240 median for October 2007, C.A.R. reported. The October 2008 median price fell 1.9 percent compared with September’s revised $316,960 median price.
“The year-to-year decline in the statewide median home price was smaller in October than the previous month for the first time in 11 months,” said C.A.R Vice President and Chief Economist Leslie Appleton-Young. “However, there is still no conclusive indication that prices have begun to stabilize.”
Highlights of C.A.R.’s resale housing figures for October 2008:
. C.A.R.’s Unsold Inventory Index for existing, single-family detached homes in October 2008 was 5.9 months, compared with 15.2 months (revised) for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.
. Thirty-year fixed-mortgage interest rates averaged 6.20 percent during October 2008, compared with 6.38 percent in October 2007, according to Freddie Mac. Adjustable-mortgage interest rates averaged 5.21 percent in October 2008, compared with 5.68 percent in October 2007.
. The median number of days it took to sell a single-family home was 45 days in October 2008, compared with 58.8 days (revised) for the same period a year ago.
Regional MLS sales and price information are contained in the tables that accompany this press release. Regional sales data are not adjusted to account for seasonal factors that can influence home sales. The MLS median price and sales data for detached homes are generated from a survey of more than 90 associations of REALTORS® throughout the state. MLS median price and sales data for condominiums are based on a survey of more than 60 associations. The median price for both detached homes and condominiums represents closed escrow sales.
In a separate report covering more localized statistics generated by C.A.R. and DataQuick Information Systems, 1.6 percent, or 6 out of 378 cities and communities, showed an increase in their respective median home prices from a year ago. DataQuick statistics are based on county records data rather than MLS information. DataQuick Information Systems is a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. (The top 10 lists are generated for incorporated cities with a minimum of 30 recorded sales in the month.)
Note: Large changes in local median home prices typically indicate both local home price appreciation, and often, large shifts in the composition of housing market activity. Some of the variations in median home prices for September may be exaggerated due to compositional changes in housing demand. The DataQuick tables listing median home prices in California cities and counties are accessible through C.A.R. Online at http://www.car.org/economics/historicalprices/2008medianprices/oct2008medianprices/.
. Statewide, the 10 cities with the highest median home prices in California during October 2008 were: Newport Beach, $1,150,000; Danville $883,250; Mountain View, $860,000; Santa Barbara, $835,000; Los Gatos, $810,000; Cupertino, $804,500; Santa Monica, $744,500; San Mateo, $740,000; Redondo Beach, $727,500; and San Ramon, $710,500.
. Statewide, the cities with the greatest median home price increases in October 2008 compared with the same period a year ago were: Mountain View, 18.6 percent; Alhambra 13.4 percent; Ridgecrest 6.2 percent; and Berkeley, 5.9 percent.
Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States, with nearly 180,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.
October 2008 Regional Sales and Price Activity*
Regional and Condo Sales Data Not Seasonally Adjusted
| Median Price | Percent Change in Price from Prior Month | Percent Change in Price from Prior Year | Percent Change in Sales from Prior Month | Percent Change in Sales from Prior Year | ||||
| Oct-08 | Sep-08 | Oct-07 | Sep-08 | Oct-07 | ||||
| Statewide | ||||||||
| Calif. (sf) | $311,060 | -1.9% | -39.9% | 9.5% | 117.1% | |||
| Calif. (condo) | $267,700 | -8.4% | -36.7% | 10.3% | 63.3% | |||
| C.A.R. Region | ||||||||
| Central Valley | NA | NA | NA | NA | NA | |||
| High Desert | $154,660 | -3.2% | -41.8% | 9.0% | 269.2% | |||
| Los Angeles | $366,520 | -2.6% | -32.2% | 0.0% | 118.9% | |||
| Monterey Region | $336,630 | -3.2% | -52.7% | 7.6% | 144.0% | |||
| Monterey County | $285,000 | 1.8% | -54.0% | 13.1% | 275.8% | |||
| Santa Cruz County | $500,000 | 5.3% | -31.7% | -4.8% | 25.5% | |||
| Northern California | $310,120 | -3.5% | -17.0% | -4.3% | 16.5% | |||
| Northern Wine Country | $369,890 | 0.2% | -30.6% | 15.6% | 95.4% | |||
| Orange County | $490,360 | -1.1% | -28.6% | 5.3% | 108.1% | |||
| Palm Springs/Lower Desert | $206,050 | 3.1% | -36.3% | 6.3% | 115.0% | |||
| Riverside/San Bernardino | $209,990 | -3.6% | -39.7% | 13.5% | 254.9% | |||
| Sacramento | $196,920 | 0.5% | -36.3% | 4.1% | 173.1% | |||
| San Diego | $337,640 | -9.6% | -37.4% | 25.0% | 131.6% | |||
| San Francisco Bay | $520,920 | -6.1% | -35.8% | 1.0% | 49.1% | |||
| San Luis Obispo | $396,430 | 5.7% | -27.7% | 19.6% | 57.3% | |||
| Santa Barbara County | $341,300 | -4.0% | -54.0% | 2.7% | 83.5% | |||
| Santa Barbara South Coast | $860,000 | -9.0% | -35.1% | -2.7% | 18.0% | |||
| North Santa Barbara County | $247,580 | -3.1% | -31.4% | 3.5% | 178.6% | |||
| Santa Clara | $549,940 | -8.3% | -36.4% | -9.6% | 42.2% | |||
| Ventura | $427,650 | -1.0% | -34.3% | 12.1% | 119.5% | |||
* Santa Barbara County and Monterey County median prices decreased significantly from Oct 07 due mainly to the high proportion of total sales from lower-priced properties in the regions.
*Based on closed escrow sales of single‑family, detached homes only (no condos). Reported month‑to‑month changes in sales activity in June overstate actual changes because of the small size of individual regional samples. Movements in sales prices should not be interpreted as measuring changes in the cost of a standard home. Prices are influenced by changes in cost and changes in the characteristics and size of homes actually sold.
sf = single‑family, detached home
Source: CALIFORNIA ASSOCIATION OF REALTORS®
| Oct-08 | Sep-08 | Oct-07 | |||
| Statewide | |||||
| Calif. (sf) | $311,060 | $316,960 | r | $517,240 | r |
| Calif. (condo) | $267,700 | $292,140 | r | $422,620 | r |
| C.A.R. Region | |||||
| Central Valley | NA | NA | NA | ||
| High Desert | $154,660 | $159,720 | $265,880 | ||
| Los Angeles | $366,520 | $376,440 | r | $540,590 | r |
| Monterey Region | $336,630 | $347,920 | $711,400 | r | |
| Monterey County | $285,000 | $280,000 | $620,000 | ||
| Santa Cruz County | $500,000 | $475,000 | $732,500 | r | |
| Northern California | $310,120 | $321,320 | $373,790 | ||
| Northern Wine Country | $369,890 | $369,180 | $532,900 | r | |
| Orange County | $490,360 | $496,010 | r | $686,700 | r |
| Palm Springs/Lower Desert | $206,050 | $199,810 | $323,440 | ||
| Riverside/San Bernardino | $209,990 | $217,730 | $348,010 | r | |
| Sacramento | $196,920 | $195,900 | $309,360 | ||
| San Diego | $337,640 | $373,620 | $539,060 | ||
| San Francisco Bay | $520,920 | $554,730 | $811,200 | r | |
| San Luis Obispo | $396,430 | $375,000 | $548,610 | ||
| Santa Barbara County | $341,300 | $355,560 | $742,190 | ||
| Santa Barbara South Coast | $860,000 | $945,000 | r | $1,325,000 | |
| North Santa Barbara County | $247,580 | $255,440 | $360,870 | ||
| Santa Clara | $549,940 | $600,000 | $865,000 | r | |
| Ventura | $427,650 | $431,770 | $650,570 |
na - not available
r - revised
Source: CALIFORNIA ASSOCIATION OF REALTORS®
| Summary Price Information | |||
| Minimum | $155,000 | Maximum | $7,950,000 |
| Average | $743,385 | Median | $535,000 |
| Equal Opportunity Housing * All information deemed reliable, but not guaranteed. |
| Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market Copyright ©2008 Rapattoni Corporation. All rights reserved. |
Area Market Survey
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| Listings as of 11/23/08 at 11:17am |
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| Equal Opportunity Housing * All information deemed reliable, but not guaranteed. |
| Info deemed reliable but not guaranteed. DOM may not reflect total days property has been on market Copyright ©2008 Rapattoni Corporation. All rights reserved. |
What you are looking at are numbers derived from the South Tahoe Association Of Realtors Multiple Listing Service for Single Family Homes only. The reason is because this segment of the market has the most influence on value trends.
This week we have seen the inventory slightly declined to 401 single family residences and the pending sales slightly increased to 60 escrows. This equates to 13% of the inventory is in escrow. Our high for the year was just above 14% which was in September. Most of the year we had averaged closer to 12%. We are in the second month of the quarter and the activity is holding steady. At this rate, we will should see a strong quarter with the most units sold and the highest gross sales. We will most certainly end the year on a high note for overall sales.
December is typically a soft month due to the holiday activity. So when a say that, I’m still expecting December to be softer than the previous months activity. All of this is happening with some of the most depressing economic news to date. Not Bad!!!! So if you are looking for positive news regarding our local home sale market, This is it!
The price band between $350K and $400K still has my curiousity. I mentioned it in last week’s report as well. There are still more home selections here with 54 homes and only 1more pending sale since last week. Again, this is something to focus on if you are looking for motivated sellers. This price band has to be more frustrating for the sellers. If you would like me to email you the a list, please contact me anytime. This is where I would be looking for the best buys!
This concludes this week’s report. If you have any further questions or special requests, you may post a comment or email me. If you don’t see information here that you feel is important, please let me know. This is your resource and I am happy to give you as much information as you can possibly digest. Have a good week!
NV Bank Owned Listings As Of March 9th, 2010
November 22, 2008
Click Here to view a current list of NV Banked Owned properties.
