Active
Volume: 17 (-29%)
Low: $1,695,000 (+13%)
High: $12,500,000 (0)
Average: $3,594,235.24 (+12%)
Median: $2,875,000 (+13%)
Under Contract
Volume: 7 (+133%)
Low: $1,699,000 (0)
High: $2,950,000 (0)
Average: $2,279,571.29 (-8%)
Median: $2,288,000 (-18%)
Pending
Volume: 0 (0)
Low: 0 (0)
High: 0 (0)
Average: 0 (0)
Median: 0 (0)
Sold (last 30 days)
Volume: 2 (-33%)
Low: $1,600,000 (+10%)
High: $2,000,000 (0)
Average: $1,800,000 (+6.9%)
Median: $1,800,000 (+13%)
Average % Difference between List Price and Purchase Price: -8.3%(-22%)
In the last week, the numbers appear to indicate that many lower priced properties have moved into escrow. However, there still doesn't appear to be anything getting closer to actually closing escrow and or removing contingencies. I'm not exactly sure why it all would have happened in the last week, but it most certainly demonstrates push back in the market to have only the low end moving. It will be interesting to see over the course of the next month how much, if any properties actually close. If nothing else were to close in the next 19 days, we'd have an entire 30 day gap without any residential income properties closing.
I think the lack of closings demonstrates a strong lack of confidence in the marketplace and/or people are going to the stock market. With the NASDAQ just recently reaching new all time highs, I can understand why people might be more attracted to a more liquid market especially coming into the instability of the election. It's hard to say exactly which it is. I presume that the rate of closures of the properties currently in escrow will be able to demonstrate which. Stay tuned over the next month.
Volume: 17 (-29%)
Low: $1,695,000 (+13%)
High: $12,500,000 (0)
Average: $3,594,235.24 (+12%)
Median: $2,875,000 (+13%)
Under Contract
Volume: 7 (+133%)
Low: $1,699,000 (0)
High: $2,950,000 (0)
Average: $2,279,571.29 (-8%)
Median: $2,288,000 (-18%)
Pending
Volume: 0 (0)
Low: 0 (0)
High: 0 (0)
Average: 0 (0)
Median: 0 (0)
Sold (last 30 days)
Volume: 2 (-33%)
Low: $1,600,000 (+10%)
High: $2,000,000 (0)
Average: $1,800,000 (+6.9%)
Median: $1,800,000 (+13%)
Average % Difference between List Price and Purchase Price: -8.3%(-22%)
In the last week, the numbers appear to indicate that many lower priced properties have moved into escrow. However, there still doesn't appear to be anything getting closer to actually closing escrow and or removing contingencies. I'm not exactly sure why it all would have happened in the last week, but it most certainly demonstrates push back in the market to have only the low end moving. It will be interesting to see over the course of the next month how much, if any properties actually close. If nothing else were to close in the next 19 days, we'd have an entire 30 day gap without any residential income properties closing.
I think the lack of closings demonstrates a strong lack of confidence in the marketplace and/or people are going to the stock market. With the NASDAQ just recently reaching new all time highs, I can understand why people might be more attracted to a more liquid market especially coming into the instability of the election. It's hard to say exactly which it is. I presume that the rate of closures of the properties currently in escrow will be able to demonstrate which. Stay tuned over the next month.
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