Hello Everyone,
This is an interesting market we have. Single Family Residences (SFR) and Condo's seem to be headed in opposite directions.
SFR units sold are back on the upward trend with about 42 more units (479 units or 9.6%) sold so far this year than at the same time last year. YTD prices up too at $1,329,931 vs. $1,217,055 same time last year. Percentage in contract either stable or up again in all categories. Overall SFR market now at 30-plus percent in contract while the under $1million SFR market is at a very tight 37.79% in contract. Still not ready to film anything with a title like "Sellers Gone Wild" as buyers are discriminating and will bypass overpriced listings.
Last 7 Days, SFR
New Listings 60
Price Reductions 29
Contingent 60
Pending 55
Sold 48
Expired 5
Inactive 11
Condo's YTD units sold down again at 136 for the year vs. 165 last year (down 29 units or 17.5%). Prices are still up (YTD) at $630,414 vs. $620,744 same time last year but are down slightly from last week's figures.
Last 7 Days, Condo
New Listings 24
Price Reductions 6
Contingent 12
Pending 15
Sold 7
Expired 5
Inactive 11
Condo Sellers need to put an extra degree of care into pricing, preparation, presentation, marketing, and negotiations. Condo's will sell if properly marketed, well prepared and priced.
Inventory still low. Prospective sellers, especially of SFR's would do well to get their homes on the market, and then get ready to move.
More next week-------
Best wishes to all,
Fred
P.S. for access to spreadsheets go to http://www.listedbyfred.com
Quote for the week: "Action is character."
F. Scott Fitzgerald
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