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Monday Morning Market Update November 30, 2009 Wk#47

Nov 30th, 2009
by Kathy Rain.
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Buyers were out again this weekend and seriously looking with their agents.  This will be the time that will be remembered as having some of the best real estate deals.  Inventory is low due to homes taken off the market as the Holiday Season approaches.

Still a Buyers Market – HALF MOON BAY through MONTARA,CALIFORNIA with just under half of the listings listed at over 1 Million. The Million plus price range is finally seeing activity with 20% of sales in that price range.

Active Listings-108 Single Family Homes. 44  listed over $1,00,000, 18 listed under $600,000
Pending Sales-24 with 11 listed under $700,000 and 7 over $1 Million.  No new pending sales this week.
121 Homes Closed since January 1, 2009 with  31 that closed under $600,000 and 21 over 1 Million.

PACIFICA, CALIFORNIA
With YTD sales of 219 and active listing at 46, Pacifica continues to be a Seller’s market.

Active Listings-46 Single Family Homes. 9 listed over $900,000, 19  listed under $600,000
Pending Sales-47 with 20 listed under $500,000. 5 new Pendings this week all under $700,000.
219 Homes Closed since January 1, 2009 with  82 that closed under $500,000 and 72 between $500,000- $600,000.  One  closing this week

ABSORPTION RATE
Absorption Rate is the number of months it takes to sell the current inventory at the present rate of sales.
6 months supply is a balanced market.
Less than 6 months supply is a Sellers market.
More than 6 months supply is a Buyers market

Monday Morning Market Update October 19, 2009 Wk#42

Oct 19th, 2009
by Kathy Rain.
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Still a Buyers Market – HALF MOON BAY through MONTARA,CALIFORNIA with just under half of the listings listed at over 1 Million. The Million plus price range is finally seeing activity.

Active Listings-120 Single Family Homes. 52 listed over 1 Million, 15 listed at $900,000 to 1Million.Pending Sales-41 with 11 listed under $600,000 and 10 listed over 1Million
93 Homes Closed since January 1, 2009 with only 14 that closed over $1,000,000 and 10 between $900,000 and 1 Million.

PACIFICA, CALIFORNIA
With YTD sales of 191 and active listing at 56, Pacifica continues to be a Seller’s market.

Active Listings-56 Single Family Homes. 8 listed at $1,000,000 or higher and 17 listed under $600,000.
Pending Sales-52 Single Family Homes with 20 listed under $500,000 and 15 listed between $500,000 and $600,000. 8 Properties went Sale Pending this week with 3 listed under $500,000
191 Closed Sales since January 1, 2009 with 8 that were listed for over $900,000. 107 sales were from homes listed at $600,000 or less. 4 new sales this week.

ABSORPTION RATE
Absorption Rate is the number of months it takes to sell the current inventory at the present rate of sales.
6 months supply is a balanced market.
Less than 6 months supply is a Sellers market.
More than 6 months supply is a Buyers market

Monday Morning Market Update July 13, 2009

Jul 13th, 2009
by Kathy Rain.
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Sellers Market with few Homes for Sale – PACIFICA, CALIFORNIA, San Mateo County

Statistic remain consistent another week With the current number of Active Listings divided by the average number of homes sold YTD, there is a little more than 1 month of inventory of Active listings.

Active Listings-45 Single Family Homes. 12 listed at $998,000 or higher and 18 listed under $600,000. 7 new listings this week with prices ranging from $449,000 to $849,000.

Pending Sales-59 Single Family Homes with 2 listed over $900,000 and 49 listed under $600,000.
1 Property went Sale Pending this week that was listed at $499,000. This is the slowest week for pendings since the begining of the year

115 Closed Sales since January 1, 2009 with 5 that were listed for over 1 Million. 79 sales were from homes listed at $600,000 or less.
7 Homes Closed this week with only one sale that was listed over 1 Million.

Still a Buyers Market – HALF MOON BAY through MONTARA, CALIFORNIA, San Mateo County

Active Listings continue to stay at the same level week over week. Still, around half of the listings are listed at over 1 Million and 15% at $600,000 or less. 8 of those 20 listings are located at Martins Beach which seems to be trying to get whatever sales they can before the land lease expires in the next couple of years.

Of the 6 new Pending Sales this week, 3 were listed at $999,000 plus. This is a big spike for pendings in the upper price range.

Year to Date Sales are most prevalant at $700,000 or less with 21 of 49 that have closed. The high end is showing 7 closing over 1 Million and 7 closing between $900,000 and $1 Million. The Market is still favoring Buyers.

Active Listings146 Single Family Homes
10 New Listings this week with 3 over 1 Million. Active listings continue to keep steady.

Pending Sales-27 Single Family Homes with 7 listed for over $999,000 and 12 under $600,000.
3 Properties went Sale Pending this week. List prices were varied once again this week for the third week in a row with no price range being dominant.

49 Homes Closed since January 1, 2009 with only 7 that closed over $1,000,000, 7 listed between $900,000-1 Million and 21 listed at $700,000 or less.
3 Homes Closed this week with list prices of $299,000, $899,000 and $999,000

69 Active Listings are listed at over $1,000,000.

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