Active
Volume: 88 (+7.3%)
Low: $325,000 (0)
High: $3,800,000 (-4.9%)
Average: $1,337,845.36 (+4.4%)
Median: $1,028,500 (+3.5%)
Under Contract
Volume: 20 (-17%)
Low $399,900 (+6.7%)
High: $3,199,000 (+12%)
Average: $1,205,659.50 (+6.3%)
Median: $974,450 (+3.2%)
Pending
Volume: 24 (+4.3%)
Low: $450,000 (0)
High: $4,195,000 (0)
Average: $1,134,790 (-.5%)
Median: $779,500 (-12%)
Sold (over the last 30 days)
Volume: 19 (+19%)
Low: $320,000 (0)
High: $2,550,000 (0)
Average: $923,026.32 (+4.9%)
Median: $785,000 (+3.2%)
Average % Difference between List Price and Purchase Price: -2.7% (+29%)
This market appears to be showing some good strength. More closed sales. Higher prices. Tighter gap between list price and purchase price. There is a slight increase in inventory along with pricing as a result of the new Newport Vue properties coming to market and definitely shifting things a bit. However, I suspect that the next couple weeks will level out as my analysis normalizes those numbers.
The only oddity is the decrease in properties moving into escrow. This may be a demonstration of the choosier buyers that we've discussed some. If buyers are going to pay a premium, they'd like for the product to be a premium. I don't envy the position of developers to design that product.
Come back tomorrow to check out what the Residential Income Market is doing and to see if it has picked up any steam or continues to slow with the impending ambiguity of the election.
Volume: 88 (+7.3%)
Low: $325,000 (0)
High: $3,800,000 (-4.9%)
Average: $1,337,845.36 (+4.4%)
Median: $1,028,500 (+3.5%)
Under Contract
Volume: 20 (-17%)
Low $399,900 (+6.7%)
High: $3,199,000 (+12%)
Average: $1,205,659.50 (+6.3%)
Median: $974,450 (+3.2%)
Pending
Volume: 24 (+4.3%)
Low: $450,000 (0)
High: $4,195,000 (0)
Average: $1,134,790 (-.5%)
Median: $779,500 (-12%)
Sold (over the last 30 days)
Volume: 19 (+19%)
Low: $320,000 (0)
High: $2,550,000 (0)
Average: $923,026.32 (+4.9%)
Median: $785,000 (+3.2%)
Average % Difference between List Price and Purchase Price: -2.7% (+29%)
This market appears to be showing some good strength. More closed sales. Higher prices. Tighter gap between list price and purchase price. There is a slight increase in inventory along with pricing as a result of the new Newport Vue properties coming to market and definitely shifting things a bit. However, I suspect that the next couple weeks will level out as my analysis normalizes those numbers.
The only oddity is the decrease in properties moving into escrow. This may be a demonstration of the choosier buyers that we've discussed some. If buyers are going to pay a premium, they'd like for the product to be a premium. I don't envy the position of developers to design that product.
Come back tomorrow to check out what the Residential Income Market is doing and to see if it has picked up any steam or continues to slow with the impending ambiguity of the election.
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