Weekly Residential Market Statistic Update For Week of March 29th to April 5th 2012
New Listings: 673 (552, 476, 437, 463)
Sold: 166 (155, 166, 169, 131)
Sale to List Ratio: 25% (28%, 35%, 28%, 39%)
Expired/Cancelled/Withdrawn: 167 (64, 63, 93, 82)
Active Single Family Home: 2670 (2557, 2433, 2368, 2350)
Average Single Family Home List Price: $288,845 ($288,847, $293,979, $302,404, $289,982)
Average Single Family Home Selling Price: $281,360 ($280,391, $288,039, $296,761, $283,604)
Average Days on Market Single Family Home: 96 (83, 86, 117, 97)
Active Condos: 233 (249, 257, 253, 259)
Average Condo Listing Price: $248,003 ($264,309, $243,105, $249,592, $246,056)
Average Condo Selling Price: $243,167 ($259,090, $238,820, $244,333, $242,613)
Average Days on Market Condos: 102 (120, 94, 63, 94)
And I thought last week was a good addition! This week beats last weeks inventory addition by a long shot. I boasted about how we finally reached over the 500 mark in inventory addition last week but we blew that stat out of the water with almost 700 new listings this week! This is also caused by the beginning of the month expired/renewed listing trend. Listings usually have a 90 day run with their chosen agent so those listings that went up in January and didn't sell, have expired and have been re-listed. Even though condo inventory is low, actives take another dive going against the grain of single family homes and actually reduce in numbers again this week. Condo owners must be wondering if this might be an opportune time to cash their chips in the condo market and use that profit to jump into a single family time? I know I would be...
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Jeremiah Wallace, CD
Jeremiah has been involved with many aspects of the Real Estate industry for over fourteen years. This includes construction, residential renovations, interior design, and investing in various income generating property products..
Photo's by Jeremiah