CA Weekly Statistics As Of Dec. 12th, 2008

 What you are looking at below are charts and 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. 

Compared to last year at this time, the market seems to be sightly better.  The Active Listings on the market are down by 28 single family homes and the Pending Listings are up by 9 escrows.  This equates to a ratio of Active to Pending at a rate of 11%.  This is 2 points better than last year.  A very encouraging trend.    If you look at the Medians for the pending sales it shows that the median has dropped from $499K to $427K.  Average Pending Listing price dropped from $618,679 to $506,585.  You may conclude that the drop in prices has contributed to the increased activity in the market. 

This concurrs with my observations.  With 40% of the sales being bank owned properties, this seems to be the contributing factor in both lower prices and increased units sold.  With the recent drop in interest rates and prices, it is a buyers paradise.  Although you have to be a well qualified buyer to get the loans and the selection does appear to be shrinking.

Listings per Status
Minimum, Average, Maximum
Days On Market Analysis
$1,000,000 thru $1,249,999	15	215
$1,250,000 thru $1,499,999	14	200
$1,500,000 thru $1,749,999	11	270
$1,750,000 thru $1,999,999	4	343
$2,000,000 thru $2,249,999	2	296
$2,250,000 thru $2,499,999	3	103
$2,500,000 thru $2,749,999	3	85
$2,750,000 thru $2,999,999	1	706
$3,000,000 thru $3,249,999	1	93
$3,250,000 thru $3,499,999	1	201
$3,750,000 thru $3,999,999	1	185
$5,000,000 thru $5,999,999	1	137
$7,000,000 thru $7,999,999	2	545
	388	189

Summary Price Information
Minimum	$155,000	Maximum	$7,950,000
Average	$736,399	Median	$529,450

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

Listings as of 12/13/08 at 12:07pm

Pending Listing Price Range  Quantity      Average DOM   $160,000 thru $179,999 2 23   $200,000 thru $249,999 1 87   $250,000 thru $299,999 8 132   $300,000 thru $349,999 7 99   $350,000 thru $399,999 4 111   $400,000 thru $449,999 6 208   $450,000 thru $499,999 6 193   $500,000 thru $549,999 2 644   $550,000 thru $599,999 2 150   $600,000 thru $649,999 1 455   $750,000 thru $799,999 1 148   $800,000 thru $849,999 4 205   $950,000 thru $999,999 2 147   $1,250,000 thru $1,499,999 1 74   $1,750,000 thru $1,999,999 1 253     48 174

Summary Price Information Minimum  $164,000 Maximum  $1,890,000 Average  $506,585 Median  $427,000

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.